China’s export growth slowed in the January-February period largely due to base effects, and though the data beat expectations, Russia’s invasion of Ukraine has heightened uncertainty over the outlook for global trade this year.
Outbound shipments rose 16.3% in the first two months of the year from the same period a year earlier, official data showed on Monday, beating analyst expectations for a 15.0% rise, but down from 20.9% gain in December.
Imports increased 15.5%, easing from a 19.5% gain in December and below the forecast 16.5% increase.
The customs agency publishes combined January and February trade data to smooth distortions caused by the Lunar New Year, which can fall in either month.
Factory activity normally slows considerably during the long holiday as workers return to their home towns. But for the third year in a row, many factory workers did not return home because of concerns about COVID-19, which kept some factories operating.
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