China’s export growth eased in the January-February period driven by base effects, but Russia’s invasion of Ukraine has increased risks over the global trade outlook this year.
- Outbound shipments surged 16.3% in the first two months of the year from the same period, a year ago. The figures beat analyst expectations for a 15% jump but were down from a 20.9% gain in December.
- Imports rose 15.5% cooling down from a 19.5% gain in December and came below a forecast of 16.5% increase.
- Factory activity usually eases considerably during the long holiday as workers move to their rural towns.
- Meanwhile, for the third consecutive year, many factory workers did not travel to their hometowns due to the concerns of COVID-19, which kept some factories open.
China’s booming exports beat expectations for last year and boosted growth in the world’s second-largest economy.
CSI 300 Index down -3.19%, CNY USD down -0.02%