A huge gap in China's exports in January and February

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Beijing, Ta. 07 Mar 2020, Saturday

Due to the coronavirus, trade disruptions, global supply chain and widespread disruption of economic activity have resulted in huge disruption to China's exports in the first two months of January, ie January and February. China's imports have also dropped significantly.

China's economic growth rate has risen again to a fifty percent decline in the first quarter of the year due to weak trade figures, which will be seen for the first time after three. Production activity in China has stalled and demand has dropped sharply due to strong measures taken by the government to control the virus.

During the January-February period, China's exports recorded a contraction of 5.5 percent year-on-year, Chinese customs data said. This is the biggest drop in Chinese exports since February 3. China's imports have fallen 5 percent annually. December imports saw a jump of 7.5 percent following a trade agreement between the United States and China.

During the January-February period, China showed a $ 2.7 billion trade deficit. China's PMI for February's manufacturing sector, which was announced earlier this week, fell to a record-high 5.5.

The low production sector in February gives an idea of ​​how the coronavirus has affected China's economy.

Although the government is slowing down the measures implemented in China, trade activities are not starting quickly and analysts believe that the situation in the manufacturing sector may be delayed until April.

The long-term impact of the coronavirus in China has been reported to have a profound impact on China's trading partner countries.


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