China: Trade surplus continued to narrow in January
February 14, 2011
In January, exports added 37.7% over the same month last year to reach USD 150.7 billion. The figure more than doubled the 17.9% expansion observed in December and surprised the market on the upside, as analysts had exports growing 22.5%. Meanwhile, imports soared 51.0% over January 2010 (December: +25.6% year-on-year) to reach USD 144.3 billion, fanned by buoyant domestic demand. As a result, the trade surplus narrowed from USD 13.1 billion in December to USD 6.5 billion in January. Moreover, exports reached USD 1.6 trillion in the 12-month period ended in January, which is 32.7% above the USD 1.2 trillion recorded in the previous period. Total imports climbed 37.5% over the 12-month period ended in January 2010 to reach USD 1.4 trillion. As a result, the trade surplus for the last 12 months fell to USD 176.9 billion (full-year 2010: USD 183.1 billion).