China: Exports rebound strongly at the outset of the year
February 9, 2017
Exports rose 7.9% annually in January, contrasting the 6.1% drop recorded in December. The print exceeded the 3.2% rise that market analysts had expected and was the largest expansion in one year. China’s exports are benefiting from a weak yen and the recovery of global demand.
Meanwhile, imports rose 16.7% annually, which came in well above the 3.1% increase recorded in December. The print overshot the 10.0% expansion that market analysts had expected and represented the fastest increase since January 2013.
As a result of the strong rebound in imports, the trade surplus declined from USD 56.7 billion in January 2016 to USD 51.3 billion in January 2017. The 12-month moving sum of the trade surplus decreased from December’s USD 510 billion to USD 508 billion in January, which marked the lowest value since March 2015.