China exports tumbleChristian Fernsby ▼ | March 9, 2020
China's exports contracted sharply in the first two months of the year, and imports declined, as the health crisis triggered by the coronavirus outbreak caused massive disruptions to business operations, global supply chains and economic activity.
Business in China China port ship
Topics: China export
Overseas shipments fell 17.2% in January-February from the same period a year earlier, customs data showed on Saturday, marking the steepest fall since February 2019.
That compared with a 14% drop tipped by a Reuters poll of analysts and a 7.9% gain in December.
Imports sank 4% from a year earlier, but were better than market expectations of a 15% drop. They had jumped 16.5% in December, buoyed in part by a preliminary Sino-U.S. trade deal.
China ran a trade deficit of $7.09 billion for the period, reversing an expected $24.6 billion surplus in the poll. ■