China export growth slows, imports fall

China’s export growth grew slower than expected in the first two months of this year while imports fell sharply, amid escalating trade tensions between the world’s two biggest economies.

According to customs data released on Friday, outbound shipments from China in January and February rose 2.3 percent from a year earlier, compared with a gain of 10.7 percent in December and market expectations of a 5 percent increase.

The slower pace was attributed partly to firms rushing out exports before the anticipated US tariff increases.

Imports declined 8.4 percent year on year, after rising by 1 percent in December.

Analysts said the drop in imports of grain, iron ore and crude oil signalled that Beijing was scaling back on purchases of key commodities amid heightened tensions with the United States under the Trump administration.

China’s trade surplus for the two months came in at US$170 billion. (Agencies)

China’s export growth grew slower than expected in the first two months of this year while imports fell sharply, amid escalating trade tensions between the world’s two biggest economies.

According to customs data released on Friday, outbound shipments from China in January and February rose 2.3 percent from a year earlier, compared with a gain of 10.7 percent in December and market expectations of a 5 percent increase.

The slower pace was attributed partly to firms rushing out exports before the anticipated US tariff increases.

Imports declined 8.4 percent year on year, after rising by 1 percent in December.

Analysts said the drop in imports of grain, iron ore and crude oil signalled that Beijing was scaling back on purchases of key commodities amid heightened tensions with the United States under the Trump administration.

China’s trade surplus for the two months came in at US$170 billion. (Agencies)