China reported a USD 51.35 billion trade surplus in January of 2017, lower than a USD 56.67 billion surplus a year earlier but above market consensus of a USD 47.90 billion surplus. It was the largest trade surplus since January 2016, mainly driven by a 7.9 percent rise in exports while imports surged 16.7 percent.
In January, exports rose 7.9 percent year-on-year to USD 182.81 billion, due to stronger global demand, following a 6.2 percent drop in the prior month and beating expectations of a 3.3 percent rise. Sales to the U.S. went up 9 percent, which could add concerns by the Trump administration about bilateral trade.
Imports increased by 16.7 percent to USD 131.43 billion, compared to a 3.1 percent growth in a month earlier while. Figure came in higher than market estimates of a 10.0 percent increase, mainly due to rising demand for coal, crude oil and iron core.
In yuan-denominated terms, exports jumped 15.9 percent from a year earlier, compared to a 0.6 percent rise in a month earlier. Inbound shipments surged 25.2 percent, following a 10.0 percent rise in December.
In December 2016, the country reported a marginally revised USD 40.71 billion surplus.
Trade in January and February can be distorted by the week-long Lunar New Year holidays, with business slowing down weeks ahead of time and companies scaling back operations. This year, the holiday fell on January 28th.
2/10/2017 11:17:42 AM