BUSINESS

China In Trade Deficit Zone For First Time In Three Years

China has hit a hiccup in trade for the first time in three years.

According to press reports,  the country reported its first monthly trade deficit in three years, after imports surged and a slowdown during the Lunar New Year holidays hit output.

Higher commodity prices and domestic demand were credited with pushing February’s imports up 38.1% on a year earlier.

But exports unexpectedly fell 1.3%, giving a trade deficit of $9.2 billion for the month.

China’s monthly imports last exceeded exports in February 2014.

Analysts polled by Reuters had forecast China would have a monthly trade surplus of $25.8 billion.

Nigel Belle, Readers Bureau, Fellow

Edited by Jesus Chan

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