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Chinese exports increased 7.1% between January and February
Thursday, March 7, 2024 - 10:30
Exportaciones chinas. Foto: Reuters.

In the case of the United States, Chinese exports increased 5% annually, to US$ 73,420 million, while imports fell 9.7%, to US$ 26,134 million.

Between January and February, Chinese exports added a total value of US$528,010 million, a figure that represents a year-on-year increase of 7.1%, according to data published today Thursday by the General Administration of Customs of China.

For its part, imports from the Asian giant also grew, although at a rate of 3.5%, up to US$ 402.85 billion, which results in a surplus of US$ 125.16 billion.

Among the Asian giant's main trading partners, Chinese exports to the EU fell by 1.3%, to US$ 78,256 million, and imports fell by 9.4%, to US$ 38,992 million.

In the case of the United States, Chinese exports increased 5% annually, to US$ 73,420 million, while imports fell 9.7%, to US$ 26,134 million.

At the start of 2024, trade relations between China and Russia continued to strengthen and Chinese sales to its northern neighbor increased by 12.5%, to US$ 16,808 million, while imports from Russia totaled US$ 20,202 million, a 6.7% more.

"China's exports increased year-on-year at the fastest pace since May, with export volumes reaching a record level. However, we doubt the sustainability of this strength, as exporters now have more limited scope to reduce prices and secure their market share," warned Zichun Huang, China economist at Capital Economics.

In this sense, the analyst points out that, although China's export sector managed to resist the global slowdown by expanding its market share, this was favored by the drastic reduction in prices of exporters and the weakness of the currency, adding that The drop in prices has reduced profit margins, which are already low by historical standards, leaving more limited room to further reduce prices, while the yuan is expected to appreciate this year.

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