China’s Jan-Feb Trade Balance: Surplus unexpectedly widens amid a massive surge in exports

China’s Trade Balance for January and February, in Yuan terms, came in at CNY675.86 billion versus CNY369.73 billion expected and CNY516.81 billion last.

The exports in the first two months of 2021 surged by a whopping 50.1% vs.11.2% expectations and 10.9% last.

Imports arrived at 14.5% vs.-2% market forecasts and -0.2% prior.

In USD terms,

China reported a widening trade surplus, as imports and exports both bettered the consensus forecasts.

Trade Balance came in at +103.25B versus +60B expected and +78.17B previous.

Exports (YoY): +60.6% vs. +38.9% exp. and +18.1% last.

Imports (YoY): +22.2% vs. +15% exp. and +6.5% last.