China’s trade surplus soars to $31.9 billion in January 2014

According to recent figures, China’s trade surplus jumped to $31.9 billion in January, easing concerns the world’s second-largest economy may be stuck in a slowdown.

The figure was up 14% from a year earlier and stronger than forecasts for a $23.7 billion surplus.

Imports rose by 10% from a year earlier to $175.27 billion – led by record shipments of crude oil, iron ore and copper.

Exports increased by 10.6% from a year earlier, far faster than analysts’ forecasts, to $207.13 billion.

The positive trade figures also add to expectations China will overtake the US as the world’s largest trading nation this year.

China’s trade surplus jumped to $31.9 billion in January, easing concerns the world’s second-largest economy may be stuck in a slowdown

China is the world’s largest exporter, and analysts had been expecting the data to reflect effects of the Lunar New Year holiday, which fell in January this year.

During this period, factories and offices on the mainland tend to shut for long periods for workers to mark China’s biggest annual holiday.

Investors have been watching economic releases out of China closely as its growth affects the health of export-oriented countries such as Singapore and Australia.

China is expected to post its slowest growth in over a decade this year, which is likely to have a knock-on effect across the region.

Last month, financial markets nosedived after surveys of its manufacturing and services sectors indicated a slowdown in the economy.

8MtAwKjEwNE
Clyde K. Valle

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.

Recent Posts

Donald Trump and Elon Musk Celebrate Election Victory at UFC 309

Image source: Wikimedia Commons President-elect Donald Trump celebrated his election victory at the Ultimate Fighting…

5 days ago

White House 2024: Donald Trump Wins, Kamala Harris Calls Him to Concede Election

Millions of voters across the US chose to return Donald Trump to the White House…

2 weeks ago

Who Won? Donald Trump Declares Victory as He Addresses Jubilant Supporters in Florida

Donald Trump declares victory in the US election as he addresses jubilant supporters in Florida.…

2 weeks ago

Stocks Soaring as Donald Trump Closes in on US Victory

Stocks around the world are rising as Donald Trump appears to be on the cusp…

2 weeks ago

Who Won? Kamala Harris Cancels Election Night Party as Path to Victory Narrows

Donald Trump has won Pennsylvania, North Carolina and Georgia and taken a lead over Kamala…

2 weeks ago

Quincy Jones Dead at 91

Quincy Jones, the celebrated musician and producer who worked with Michael Jackson, Frank Sinatra, Ray…

2 weeks ago