China re­turns to trade deficit

Townsville Bulletin - - Investor -

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.

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