China’s Export Growth Jumps To Highest In Over Two Decades Post Covid-19 Hit

In a sharp bounce back from the coronavirus outbreak that had brought activity to a near halt, the country’s imports also surged. According to the official data on Sunday, the exports spiked 60.6 percent on-year in the January-February period, above analysts' expectations and boosted by electronics and mask shipments while imports rose 22.2 percent, Agence France-Presse (AFP) reported.

AP

With electronics and textile exports such as masks contributing to the spike in outbound shipments as demand for work-from-home supplies and protective gear against the novel coronavirus outbreak soared during the pandemic, China’s export growth jumped to the highest in over two decades.

In a sharp bounce back, China’s imports also surged. The exports spiked 60.6 percent on-year in the January-February period, boosted by mask shipments and electronics, while imports rose 22.2 percent, Agence France-Presse (AFP) reported.

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The electronics exports rose 54.1 percent while textiles, including masks, rose 50.2 percent, as per the official data.

 The latest customs figures also stand in stark contrast to last year’s fall of around 17 percent in exports and 4 percent drop in imports.

China initially struggled to contain the spread of the coronavirus due to which the consumers stayed at homes and businesses witnessed a slow return to operations.

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The comparison to 2020 is also likely to have bolstered the latest figures.

The country’s overall trade surplus came in at $103.3 billion, AFP reported its customs administration as saying.