WhatsApp Logo Subscribe
For News Alert

News

China exports spike to highest in decades after Covid-19 hit

March 7, 2021 02:03 PM


Twitter Share Facebook Share WhatsApp Share

China's export growth jumped to the highest in over two decades, official data showed Sunday, with imports also surging in a sharp bounceback from the coronavirus outbreak that had brought activity to a near halt.

Electronics and textile exports such as masks contributed to the spike in outbound shipments, as demand for work-from-home supplies and protective gear against the virus outbreak soared during the pandemic.

Exports spiked 60.6 percent on-year in the January-February period, above analysts' expectations and boosted by electronics and mask shipments, while imports rose 22.2 percent, official data showed Sunday.

The latest customs figures stand in stark contrast to last year's fall of around 17 percent in exports and 4 percent drop in imports. 

The country struggled to contain the spread of Covid-19 early on, with consumers staying home and businesses seeing a slow return to operations.

The comparison to last year is also likely to have bolstered the latest figures.

China's overall trade surplus came in at $103.3 billion, its customs administration said.

Chinese authorities started combining January and February trade data last year, while it battled the coronavirus outbreak.

This is in line with how some other indicators are released, to smooth over distortions from the Lunar New Year holiday, which can fall in either month.

On Sunday, official data showed that electronics exports rose 54.1 percent, while textiles including masks rose 50.2 percent.



Most Read

  1. Scores of LCWU students protest harassment by clerk Scores of LCWU students protest harassment by clerk
  2. Female student of Punjab University commits suicide Female student of Punjab University commits suicide
  3. Chahat Fateh Ali Khan receives hilarious reactions on his new song 'Toba Toba' Chahat Fateh Ali Khan receives hilarious reactions on his new song 'Toba Toba'
  4. Karan Johar's sharp response guels ongoing fued between Alia Bhatt and Divya Khosla Karan Johar's sharp response guels ongoing fued between Alia Bhatt and Divya Khosla
  5. The Kapil Sharma Show actor Atul Parchure passes away The Kapil Sharma Show actor Atul Parchure passes away
  6. Tesla car fire in France claims four lives Tesla car fire in France claims four lives