China's Jan-Feb exports and imports slump further

Analysts in a Reuters poll had expected exports to fall 9.4%, after dropping 9.9% in December amid cooling global demand. Imports were forecast to have shrank an annual 5.5%, compared with a 7.5% fall in December, even though domestic consumption improved after the lifting of stringent COVID-19 curbs late last year. China posted a trade surplus of $116.9 billion in January-February, compared with a $81.8 billion surplus expected in the poll.

China's exports for January-February shrank by 6.8% from a year earlier, while imports declined by 10.2%, customs data showed on Tuesday. Analysts in a Reuters poll had expected exports to fall 9.4%, after dropping 9.9% in December amid cooling global demand.

Imports were forecast to have shrank an annual 5.5%, compared with a 7.5% fall in December, even though domestic consumption improved after the lifting of stringent COVID-19 curbs late last year. China posted a trade surplus of $116.9 billion in January-February, compared with a $81.8 billion surplus expected in the poll.