While imports increased in China in February, exports decreased.
According to the data of the Customs Administration, imports increased by 4.2 percent compared to the previous year and amounted to 197 billion dollars. Thus, the decrease in imports experienced in the last 4 months has also come to an end. Imports had decreased by 21.4 percent in the previous month.
Exports, on the other hand, decreased by 1.3 percent year-on-year to $ 214 billion in this period. Exports decreased by 10.5 percent in January.
The jump in imports also caused the trade surplus to be at its lowest level since March 2021 at $16.8 billion.
The Chinese New Year, which started at the end of January, was also effective in February figures.
The increase in imports indicates that domestic demand is accelerating and commodity demand is recovering. The Beijing government is trying to balance weakness in exports and the weak housing market with consumer spending in order to achieve its growth target set at around 5 percent this year.
According to the data announced today, the country's coal imports also increased by 160 percent annually.