Economics
China's Exports Decline as Trade Surplus Swells to Record
- Exports drop 11.2%, imports fall 18.8%, leaving record surplus
- Yuan strengthens, stocks slide upon reopening from holiday
Yuan Rally Unlikely to Last: Panmure Gordon
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A slide in China’s exports in January was eclipsed by an even bigger tumble in imports, leaving a record trade surplus for the world’s biggest trading nation.
Overseas shipments declined 11.2 percent in January in U.S. dollar terms from a year earlier, the customs administration said on Monday, compared with a 1.4 percent drop in December. Imports extended a stretch of declines to 15 months, tumbling 18.8 percent, leaving a record trade surplus of $63.3 billion.