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Asia   Imports in February surged 38.1%

First trade deficit in China since 2014

Shanghai portChina recorded a surprise trade deficit in February, its first since 2014, following a surge in imports after the Lunar New Year holiday and an unexpected drop in exports.

Exports fell 1.3% in February from a year ago, following growth of 7.9% in January, the General Administration of Customs said.

Imports in February surged 38.1% from a year earlier, compared with 16.7% growth in January. The latest gain was larger than the poll's median forecast for a 21% increase.

China posted a trade deficit of $9.15 billion in February, compared with a surplus of $51.35 billion in the previous month. Economists had been expecting a $26.55 billion surplus.


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