In January, China's trade surplus reached 29,2 billion dollars, with the volume of exports growing significantly on an annual basis. This was communicated by the Chinese Customs Office, specifying that this year the month of January includes five working days more than in 2012.
Exports last month increased by 25% (expected for +17,7%), to 187,4 billion dollars, while imports grew by 28,8% (estimated for +21,4%), to 158,2 billion. On a seasonally adjusted basis, "the volume of foreign trade rose by 8,1% year-on-year, with exports increasing by 12,4% and imports by 3,4%," the Office noted.
However, an analyst at Nomura International stated that "the high increase in exports cannot be completely attributable to the shift in the date of the Chinese New Year", which will begin on February 10, as "the figures indicate that internal and external demand is elevated and support our expectations that the Chinese economy is on the road to recovery in the first half”.
