China’s February exports fell by 25.4% year on year, the worst performance since May 2009, while imports were down by 13.8% for the period, The Guardian reported, citing data from the General Administration of Customs. With external demand weakening, China posted a trade surplus of $32.59bn for the month, down from $63.29bn in January. The trade figures were far worse than economists had expected, with analysts polled by Reuters predicting that exports would decline by just 12.5% and imports by 10%. However, imports of crude oil hit a record high of 31.8 tons, up 19% from the previous month.
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