China Trade Surplus Narrows in January


China registered a trade surplus of $29.2 billion in January of 2013. Exports increased 25 percent from a year earlier, while imports grew 28.8 percent.

Exports of machinery and electronic products were up 21 percent and exports of labor-intensive products such as textiles, clothing, bags, shoes, toys, furniture and plastics registered an increase of 24.6 percent. The biggest increase in imports was registered for coal (56.3 percent), steel (20.5 percent) and iron ore (11 percent).

Exports to the United States grew by 14.5 percent, while exports to Europe expanded by 5.2 percent. Exports to the South East Asia increased by a remarkable 48.6 percent. Overall, external demand appeared strong, even adjusting for the additional working days ahead of the Chinese New Year Holidays.
 
Annual imports from the United States surged 36.5 percent, while from the European Union increased 20.7 percent. The largest increase in imports came from Taiwan, growing by 74.8 percent. This significant rise in imports is a result of a soaring domestic demand.

Nuno Salva | nuno.salva@tradingeconomics.com
2/8/2013 12:22:39 PM