According to data from the General Administration of Customs of China, in the January-February 2024 period, the country’s exports increased by 7.1 percent to 528 billion dollars compared to the same period last year, while imports increased by 3.5 percent to 402.9 billion dollars. The country’s foreign trade surplus in the first two months of the year was 125.1 billion dollars.
The increase in exports exceeded Chinese financial data provider Wind’s forecast of 3.9 percent, while the rise in imports was above the market expectation of 0.7 percent.
On the other hand, the global recovery in exports of technology products had a positive impact on countries such as Germany, South Korea and Taiwan as well as China, whose exports are largely based on this sector.
In China, the world’s largest exporter, exports and imports declined in 2023, when there were difficulties in the post-Covid-19 economic recovery. Exports decreased by 4.6 percent and imports by 5.5 percent on an annual basis.
