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China's foreign trade rebounds in January
By Wang Yanlin |
February 10, 2010, Wednesday
|
Online Edition
Online Edition
A STRONG rebound in China's exports and imports continued in January, as overseas shipments jumped 21 percent from a year earlier to US$109.4 last month.
This further improved from a rise of 17.7 percent in December of last year, the General Administration of Customs said today. However, analysts said that spreading trade disputes may pose a threat to the fledgling recovery.
Imports surged by 85.5 percent year on year to US$95.3 billion in January, up from a rise of 55.9 percent in the previous month.
"The upbeat performance of China's trade mirrors renewed vigor in the global economy," said Li Maoyu, an analyst at Changjiang Securities Co. "The strong growth in imports is a harbinger for future gains in exports as many businesses increase their purchases of raw materials for production."
China's imports figure in January this year defied a traditional slump due to the coming Spring Festival, China's most important holiday for family reunion.
Meanwhile, China was confirmed as the world's largest exporter last year when Germany released its official data for exports. Germany's national statistics authority Destatis office announced on Tuesday (German time) that the country's exports totaled US$1.12 trillion in 2009, short of China's amount of US$1.2 trillion during the same period.
This further improved from a rise of 17.7 percent in December of last year, the General Administration of Customs said today. However, analysts said that spreading trade disputes may pose a threat to the fledgling recovery.
Imports surged by 85.5 percent year on year to US$95.3 billion in January, up from a rise of 55.9 percent in the previous month.
"The upbeat performance of China's trade mirrors renewed vigor in the global economy," said Li Maoyu, an analyst at Changjiang Securities Co. "The strong growth in imports is a harbinger for future gains in exports as many businesses increase their purchases of raw materials for production."
China's imports figure in January this year defied a traditional slump due to the coming Spring Festival, China's most important holiday for family reunion.
Meanwhile, China was confirmed as the world's largest exporter last year when Germany released its official data for exports. Germany's national statistics authority Destatis office announced on Tuesday (German time) that the country's exports totaled US$1.12 trillion in 2009, short of China's amount of US$1.2 trillion during the same period.
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