Market Updates
Chinese International Trade Soar in January
Arjun Dave
08 Feb, 2013
New York City
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China reported a surge in exports and imports as demand in domestic and international markets rebounded. Adjusting for holiday calendar, exports rose more than 12% and imports gained more than 3%. Exports to the U.S. increased at the fastest pace in 10 months and to the EU in a year.
China reported January exports surged 12.4% and imports increased 3.4% after adjusting for holiday calendar changes compared to a year ago.
In the month, unadjusted exports rose 25% and imports increased 28.8%, according to the data released by the General Administration of Customs.
The monthly exports increased for the first time after falling for seven months in a row indicated higher demand in Europe and United States.
Exports to the U.S. increased 14.5%, strongest in 10 months and the gain in exports to the European Union of 5.2% was the highest in 13 months.
Increase in import suggested that domestic demand is rising and companies are restocking inventories ahead of the holiday season.
Separately, China said consumer prices rose 2% in January from a year ago, decline from the 2.5% increase in December.
Inflation in January increased 0.1% from December and 90% of inflation was driven by increase in food prices.
Inflation in the coming months is expected to increase to 3.5%.
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