China's international trade volume of goods and services increased by 14% year-on-year in February, reaching 3.69 trillion yuan (USD 514 billion). According to data released by the State Administration of Foreign Exchange, the country recorded significant growth in export and import figures.
In USD terms, China's exports of goods and services amounted to 281.1 billion dollars, while imports stood at 232.9 billion dollars. As a result, the country achieved a trade surplus of 48.2 billion dollars.
According to the data, exports of goods reached 1.79 trillion yuan (USD 249 billion), while imports amounted to 1.33 trillion yuan (USD 185 billion). Consequently, the goods trade recorded a surplus of 463.8 billion yuan (USD 64.6 billion).
On the other hand, the trade balance in services showed a deficit, as service imports exceeded exports. In February, service exports stood at 227.3 billion yuan (USD 31.6 billion), while imports reached 345.1 billion yuan (USD 48 billion), resulting in a deficit of 117.8 billion yuan (USD 16.4 billion).
According to economists, the recovery in global demand and China's strategies to enhance its competitive advantage in export markets have contributed to the growth in foreign trade. In the coming period, China's trade policy will play a crucial role in shaping the global economy.
Comments
No comment yet.