China Exports Growth Eases; Imports Logs Unexpected Fall
March 06 2025 - 6:09PM
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China's exports growth eased more than expected at the start of
the year and imports logged an unexpected sharp decline amid
mounting trade tensions, official data revealed on Friday.
Exports grew at a slower pace of 2.3 percent annually in the
January to February period, following a 10.7 percent rise in
December, data from the customs office showed. Exports were
expected to climb 5.0 percent.
Imports declined 8.4 percent from a year ago, in contrast to the
1.0 percent increase registered in December. Economists had
expected imports to rise 1.0 percent again in January to February
period.
"US tariffs aren't to blame for the time being, at least not
directly," Capital Economics economist Julian Evans-Pritchard
said.
"The share of exports heading to the US dropped back somewhat
from December but is still broadly in line with where it was ahead
of the US election," the economist added.
While the downturn in import growth partly indicates an ongoing
decline in the import intensity of GDP due to the green transition
and self-sufficiency push, the extent of the latest pullback hints
at some renewed cyclical weakness too, he noted.
Data showed that the trade surplus increased to $170.5 billion
in January to February. This was well above forecast of $143.1
billion.
China imposed additional tariffs of up to 15 percent on imports
of agricultural and food products from the US. The new tariffs take
effect on March 10.
The move came after the US President Donald Trump raised tariffs
on Chinese products to 20 percent across the board.
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