China’s exports and imports reached US$251.2 billion in February, down 4.8% compared to the same period in 2013, according to data released by China’s General Administration of Customs.
China’s exports in February fell 18.1% from a year earlier, following a 10.6% jump in January. Imports rose 10.1% year-on-year last month, resulting a trade deficit of US$23 billion.
The February export numbers are well below Bloomberg’s median estimate of a 7.5% increase.
"The trade figures will become more real in the coming months," writes ANZ’s China economists, Liu Li-Gang in a report. "(The RMB) has become much more volatile and less predictable than before."