Trade surplus sees unusual drop in February
11 March 2008
China’s trade surplus fell 63% year-on-year in February, as exports to the US and Europe slowed and overall imports were up, AP reported. Imports were up 35% for the month while exports grew by 6%, down from 26% in January. The drop in the trade gap was unusually steep as exports were affected by the severe winter storms that hit much of the country, though analysts have forecast a long-term slowdown in demand for Chinese exports. Exports to the US fell 5% in February to US$16.4 billion, while imports from the US were up 33% to US$ 6.1 billion. China’s surplus with the EU shrank by 15% over February of last year to US$10 billion.
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