China says trade growth tops forecasts in Jan-Feb

2026-03-10 - 04:34

China’s exports in January-February climbed 21.8% year-on-year, beating the 7.2% predicted by economists. (EPA Images pic) BEIJING: China’s trade surged by a fifth in the first two months of the year, official data showed Tuesday, significantly outpacing forecasts despite a plunge in shipments to the US. Official figures for the first two months of the year — usually combined to account for distortions arising from the varying Lunar New Year holiday — showed a strong start to 2026, before war broke out in the Middle East. Exports in the period climbed 21.8% year-on-year, the General Administration of Customs said, beating the 7.2% predicted in a Bloomberg survey of economists. Imports soared 19.8%, also far higher than the 7% estimated in the Bloomberg survey. The jump in imports follows official data on Monday that showed consumer prices rising at their fastest pace in three years. Exports to the US sank 11%, however, as trade frictions with Washington persisted and president Donald Trump pressed ahead with his tariff campaign. Shipments to the US totalled US$67.24 billion in January-February, the figures showed, compared with US$75.56 billion in the same period last year. But exports to the EU surged 27.8%, while exports to Asean climbed 29.2%. The world’s second-largest economy achieved a record trade surplus last year, offering a crucial lifeline for Beijing as domestic activity slumped.