China’s export growth has moderated since the start of the year, indicating a stable global demand, reports Caixin. Exports rose 16.3% in dollar terms in the January-February period year-on-year, beating the 14% median estimate in a Bloomberg survey of economists. Exports had increased 20.9% in December.
Imports increased 15.5% on year during the period, below a 17% gain predicted by economists. The trade surplus came in at $116 billion.
China’s economic activity is typically volatile in the first two months of the year due to the week-long Lunar New Year holiday. Covid outbreaks in some parts of the country also caused temporary business suspensions, although the commerce ministry has said the impact was manageable overall.