samedi 7 mars 2015
China Exports Surge 48.3%, Beating Economists’ Estimates
Posted on 21:06 by nice news
China’s exports rose more than expected in February, amid a recovery in the U.S. economy, the Asian country’s largest trade partner.
Exports gained 48.3 percent from a year earlier, the customs administration said in Beijing on Sunday. That compared with the median estimate for a 14 percent jump in a Bloomberg survey of analysts. Imports slid 20.5 percent, leaving a trade surplus of $60.62 billion.
The numbers follow Premier Li Keqiang’s announcement on Thursday of a 7 percent economic growth target for China, the lowest set in more than 15 years. Li in his work report delivered to the National People’s Congress also flagged increasing headwinds for the world’s second-largest economy such as overcapacity and insufficient innovation.
“Exports would hold up if the U.S. economy, the single most important driver for China’s external demand, holds up,” Larry Hu, head of China economics at Macquarie Securities Ltd. in Hong Kong, wrote in a note before the data.
The government set the expansion goal for total trade at 6 percent on Thursday’s government work report, down from last year’s 7.5 percent.“Exports would hold up if the U.S. economy, the single most important driver for China’s external demand, holds up,” Larry Hu, head of China economics at Macquarie Securities Ltd. in Hong Kong, wrote in a note before the data.
The government set the expansion goal for total trade at 6 percent on Thursday’s government work report, down from last year’s 7.5 percent.
To contact Bloomberg News staff for this story: Xiaoqing Pi in Beijing at xpi1@bloomberg.net
To contact the editors responsible for this story: Malcolm Scott at mscott23@bloomberg.net John Liu
Exports gained 48.3 percent from a year earlier, the customs administration said in Beijing on Sunday. That compared with the median estimate for a 14 percent jump in a Bloomberg survey of analysts. Imports slid 20.5 percent, leaving a trade surplus of $60.62 billion.
The numbers follow Premier Li Keqiang’s announcement on Thursday of a 7 percent economic growth target for China, the lowest set in more than 15 years. Li in his work report delivered to the National People’s Congress also flagged increasing headwinds for the world’s second-largest economy such as overcapacity and insufficient innovation.
“Exports would hold up if the U.S. economy, the single most important driver for China’s external demand, holds up,” Larry Hu, head of China economics at Macquarie Securities Ltd. in Hong Kong, wrote in a note before the data.
The government set the expansion goal for total trade at 6 percent on Thursday’s government work report, down from last year’s 7.5 percent.“Exports would hold up if the U.S. economy, the single most important driver for China’s external demand, holds up,” Larry Hu, head of China economics at Macquarie Securities Ltd. in Hong Kong, wrote in a note before the data.
The government set the expansion goal for total trade at 6 percent on Thursday’s government work report, down from last year’s 7.5 percent.
To contact Bloomberg News staff for this story: Xiaoqing Pi in Beijing at xpi1@bloomberg.net
To contact the editors responsible for this story: Malcolm Scott at mscott23@bloomberg.net John Liu
China Exports Surge 48.3%, Beating Economists’ Estimates
Categories: Beating Economists’ Estimates, China Exports Surge 48.3%
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