Imports surged at an annualized 16.7%, following a 3.1% gain the previous month. Imports are emerging out of a multi-year downtrend caused by slowing domestic demand. The value of exports rose at a 7.9% annualized rate, following a 6.2% drop the month before, official data showed. Analysts expected imports to rise 10% and exports to rebound 3.3%. For 2016, China’s exports fell 7.7% annually, the worst drop since 2009. Imports also fell 5.5%, leading Beijing to a trade surplus of $509.96 billion.
China's Trade Balance surplus rose more than expected
China’s trade surplus expanded faster than expected in January, data from the General Administration of Customs showed on Friday. Beijing posted a trade surplus of 355 billion yuan in January, up from 275 billion yuan in December, well above forecasts calling for 295 billion. In U.S.-denominated terms, Beijing’s surplus widened to $51.4 billion from $40.8 billion. Analysts in a median estimate forecast a reading of $49.8 billion.
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