China's exports beat forecasts in sign of global trade rebound

BEIJING - China's export and import growth in the January to February period beat forecasts, suggesting global trade is turning a corner in an encouraging signal for policymakers as they try to shore up a stuttering economic recovery.

- 

China's improved export data joins that of South Korea, Germany and Taiwan, which all saw their shipments top expectations over the first two months of 2024, with the Asian economies benefiting from a surge in demand for semiconductors.

Exports from the world's second-biggest economy in the two months were 7.1 per cent higher than a year before, Customs data showed on March 7, beating a Reuters poll that expected an increase of 1.9 per cent.

Imports were up 3.5 per cent compared with a poll forecast of 1.5 per cent growth.

"The better-than-forecast data echoes a recovery in global trade driven by the electronics sector, but also benefits from a low base effect as export growth in January to February 2023 was minus 6.8 per cent," said Mr Xu Tianchen, senior economist at the Economist Intelligence Unit.