Chinese international trade beats forecasts in January 2017

Imports and Exports | | MIC Customs Solutions |

China's export and import performance for January 2017 exceeded forecasts, official data has shown.

China recorded a better-than-expected international trade performance in January 2017, according to the latest government data.

Figures from the country's General Administration of Customs showed that the country's exports rose by 7.9 per cent compared to January 2016, thanks to a rise in global demand. This exceeded a forecast from analysts polled by Reuters of an increase of only 3.3 per cent.

Meanwhile, imports expanded by 16.7 per cent - up from 3.1 per cent in December, and better than the prediction of ten per cent - with improved domestic demand for coal, crude oil and iron ore helping to drive this momentum.

The strong performance seen in January resulted in a trade surplus of $51.35 billion (€48.37 billion) for the month, and represents a sign of clear improvement from the subdued trade performance China experienced for much of 2016.

However, analysts remain cautious about the Asian nation's future prospects, as the protectionist rhetoric expressed by new US president Donald Trump could result in the country facing new tariffs in the foreseeable future.