China Imports and Exports Slump

China’s exports fell 3.3 percent in January from a year earlier, while imports slumped by 19.9 percent, both missing expectations by a wide margin, and resulting in a record monthly trade surplus of $60 billion.

Thinking that easing measures in Europe would boost demand for Chinese goods, analysts polled by Reuters had expected to exports to rise by 6.3 percent, and imports to fall by only 3 percent, to give a trade deficit of $48.9 billion.

Instead, exports slid 12 percent on a monthly basis, while imports dove 21.1 percent, according to the data released by the Customs Administration said on Sunday.

CNBC