Investing.com - Chinese imports and exports fell far more than expected in January, according to data released on Monday, indicating that trade in the world’s second-largest economy got off to a shaky start in 2016.
The General Administration of Customs reported that exports fell 11.2% in January from the same month a year earlier, following a drop of 1.4% in December. Economists had forecast a far more modest decline of 1.9%.
Imports dropped 18.8% last month after falling 7.6% in December, compared to expectations for a 0.8% decrease.
Because the drop in imports outstripped the decline in exports, China posted a trade surplus of $63.29 in January, a monthly record after a surplus of $60.1 billion in December.
Imports have been hit by falling commodity prices and weakness in domestic demand, while slowing overseas demand has acted as a drag on exports.