Official data from China’s customs authority points to a year-on-year surge in exports for February, as imports saw an incremental decline.
The total value of Chinese imports and exports was 2 trillion yuan in February, for a YoY gain of 17.2%.
Exports account for 1.11 trillion, for a YoY leap of 36.2%, while imports were 888.16 billion yuan, for a decline of 0.2%.
China’s trade surplus in February was 224.88 billion yuan, as compared to a trade deficit of 72.99 billion yuan in February 2017.
The total value of Chinese goods imports and exports for the first two months of 2018 was 4.52 trillion yuan, for an increase of 16.7% compared to the same period last year.
Exports stood at 2.44 trillion yuan, for a rise of 18%, while imports came in at 2.08 trillion yuan, for a rise of 15.2%.
The trade surplus for the first two months of 2018 was 362.2 billion yuan, for a YoY rise of 37.2%.
Trade levels with the EU, US, ASEAN and Japan have all posted robust growth since the start of 2018.
The value of Sino-EU trade during the first two months of 2018 was 679.59 billion yuan for an increase of 17.2%, accounting for 15% of China’s total foreign trade.
Sino-US trade came in at 627.75 billion yuan for an increase of 15.8%, accounting for 13.9% of China’s total foreign trade.
Total trade with ASEAN was 574.53 billion yuan, for growth of 22.7%, accounting for 12.7% of Chinese foreign trade.
China’s trade with Japan grew by 6.1% to hit 312.03 billion yuan, accounting for 6.9% of the foreign trade total.
Total trade with Belt and Road nations came in at 1.26 trillion yuan, for an increase of 21.9%.