2/14, 4:29 AM (Source: TeleTrader)
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China's trade surplus soars in January

China's trade surplus in January stood at $39.1 billion, rising above expectations of $33.5 billion and far above the same month a year before, when it was reported at $18.4 billion.

According to official data, exports rose by 9.1% while imports fell by 1.5%. The overall consensus was that exports would drop 3.3%, while imports were expected to decline by 10.2%. The trade surplus with the United States fell to $27.3 billion in January, compared to $29.8 billion in December. Officials warned that "there is still some distortion expected in the figures" related to the Lunar New Year holiday period.

Breaking the News / DJ