China Jan-Feb exports tumble 17.2%, imports down 4%

China's exports tumbled 17.2 per cent in January-February from a year earlier, while imports shrank 4 per cent, as a fast spreading coronavirus outbreak caused massive disruptions in economic activity that rippled through global supply chains, customs data showed on Saturday.[BEIJING] China's exports tumbled 17.

The export fall was the steepest since February 2019 and worse than a 14 per cent drop tipped by a Reuters poll of analysts. Exports had risen 7.9 per cent in December. Analysts had forecast a 15 per cent contraction in imports, reversing sharply from a rise of 16.5 per cent in December. China posted a trade deficit of US$7.09 billion in the first two months of the year, compared with the poll's forecast for a US$24.6 billion surplus, and a reversal of December's surplus of US$47.21 billion.

Source: News Formal (newsformal.com)

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