Econintersect: Chinese exports explode to a 48.3% year-over-year gain and the country booked a $60.6 billion trade surplus in February 2015. The February trade surplus bested the previous record of $60.0 billion recorded just one month earlier. Seven of the last eight months have had trade surpluses higher than any ever before. While this year saw the highest exports number ever for any February, a decline in imports more than 20% year-over-year was a big reason for the huge surplus. Calendar circumstances for the timing of the Chinese New Year was also a big factor which changed the $22.9 billion trade deficit in February last year into this year’s record surplus.
Next year the February year-over-year comparisons for trade data will be expecially challenging because of the variable timing of the Chinese New Year.
Here are some data graphics from Trading Economics.
Sources
- China trade surplus hits new record as exports grow (BBC News, 08 March 2015)
- China Balance of Trade (Trading Economics, 09 March 2015)
- China Exports (Trading Economics, 09 March 2015)
- China Imports (Trading Economics, 09 March 2015)
