Trade data encourages optimism in China
February 8, 2013, 2:51 pm

Exports have jumped 25 per cent to $187.4 billion. [Xinhua]

China has reported positive trade data, suggesting that growth in the country is rebounding.

Trade surplus in China increased 7.7 per cent year-on-year to $29.2 billion in January, says the General Administration of Customs.

Exports jumped 25 per cent to $187.4 billion while imports rose 28.8 per cent to $158.2 billion, it said in a statement.

However, the customs body noted that there were more working days last month than in January 2012, due to the timing of the Lunar New Year.

Friday’s data shows that China’s foreign trade with the Association of Southeast Asian Nations grew 42.9 per cent to reach $36.99 billion.

Trade between China’s mainland and Hong Kong surged 83 per cent to $33.4 billion.

In contrast, China’s trade with the European Union only rose 10.5 per cent year-on-year last month to stand at $47.14 billion.

Trade with the United States increased 23.4 per cent to $43.72 billion.

In January, the foreign trade surplus widened 7.7 per cent to 183.21 billion yuan, the data showed.

China has surpassed the US as the top trading partner for most of the world.

Source: Agencies