China's January-February exports rise 7.1% YoY, exceeding forecasts (Update)

Published 07 Mar.2024 12:35(KST)

China recorded an export growth rate in January-February this year that significantly exceeded expectations.

According to the General Administration of Customs of China on the 7th, China's export value in January-February increased by 7.1% year-on-year to $528 billion (approximately 702 trillion won). This figure greatly surpassed both the previous month's rate (2.3%) and the forecast (1.9%). The growth rate is the highest since April last year (8.5%).

[Image source=AP Yonhap News]

During the same period, imports rose by 3.5% to $402.8 billion, also exceeding the forecast (1.5%) and the previous month's rate (0.2%). China's trade surplus for January-February recorded $125.16 billion, increasing by 20.5% compared to the previous year.