February trade surplus falls sharply

China recorded a steep decline in its trade surplus in February due to sharp falls in exports, the Wall Street Journal reported. February saw a monthly trade surplus of US$4.84 billion after exports fell 25.7% in February from the same period a year ago, the fourth straight month of declines. Imports declined 24.1%, moderated somewhat by government spending. February’s trade surplus figure was significantly smaller than the US$39.11 billion trade surplus recorded in January. China’s export sector has been hard hit by weak demand in overseas markets, leading to a string of factory closures and worker layoffs.