ZCZC
BCN-17
CHINA-TRADE-INDICATOR
Chinese exports unexpectedly perk up in January
BEIJING, Feb 14, 2019 (BSS/AFP) – Chinese exports unexpectedly rose last
month, according to official data released on Thursday just as China sat down
for crucial trade talks in Beijing with its top trade partner the United
States.
Exports rose 9.1 percent in January from a year earlier, data from the
customs administration showed, ahead of forecasts and turning a corner after
exports fell in December.
China’s imports, however, continued to fall in January, down 1.5 percent
from a year earlier, though at a slower pace than a 10.2 percent decline
forecast by Bloomberg News.
Analysts cautioned that it is difficult to compare trends at the start of
each year due to the Chinese New Year holiday, which came in early February
this year and can affect business activity.
“The broad trend in shipments still appears to be pointing down,” said
Julian Evans-Pritchard of Capital Economics.
“The downbeat outlook for global growth means that this year is likely to
be challenging for Chinese exporters, even if the ongoing US-China trade
negotiations culminate in a deal,” Evans-Pritchard wrote in a research note.
Officials from the world’s top two economies are holding negotiations in
Beijing on Thursday and Friday in a bid to resolve their thorny trade
dispute.
China and the US have already imposed new duties on more than $360 billion
in two-way trade, which has weighed on their manufacturing sectors and shaken
global financial markets.
Pressure to seal an accord ahead of a March 1 deadline set by Donald Trump
appears to have eased slightly after the US president indicated he was open
to extending a trade truce depending on progress in Beijing.
Trump in December postponed plans to sharply hike tariffs on $200 billion
of Chinese imports to allow more time for negotiation.
A slew of bad economic data has added to concerns about China’s economy,
which grew at its slowest pace in almost three decades last year.
BSS/AFP/HR/1050