China returns to trade deficit
CHINA returned to a trade deficit for the first time in nearly a year. The trade deficit of $ US7.3 billion ($ 7.24 billion) – the country’s first since March 2010 and only the second in nearly seven years – compared with a surplus of $ US6.45 billion ($ 6.4 billion) in January, customs authorities said. China had a surplus of $ US7.61 billion ($ 7.55 billion) in February last year. Customs blamed a slowdown in exports on the Lunar New Year holiday, which fell in early February, while imports remained strong due both to increased shipments of oil and other commodities, and their rising prices.