China Reports Trade Deficit in February


China reported a surprise trade deficit for February, its first in 11 months, as export growth slowed sharply and import growth remained strong in part because of rising prices for oil and other commodities.

China imported $7.3 billion more than it exported last month, the General Administration of Customs said on March 10 in Beijing.

China last reported a monthly deficit in March 2010, when the figure was $7.2 billion.

China's exports in February rose 2.4% from a year earlier, down from January's 37.7% rise and below the Dow Jones Newswires survey's forecast of a 25.9% expansion.

Imports rose 19.4%, down from January's 51.0% increase and below the survey's forecast of a 32.8% rise.

China's net exports are generally weaker early in the year, as exporters stock up on raw materials and components for peak retail seasons later in the year.


TradingEconomics.com, WSJ
3/10/2011 10:30:42 AM