According to official data released on Thursday, China’s exports increased significantly in the first two months of 2024, giving officials hope as they fight to revitalize the second-largest economy in the world.
Overseas shipments have long served as a key driver of the country’s economic growth, providing vast amounts of jobs for the manufacturing sector.
n January and February combined, exports surged 7.1 percent on-year, the General Administration of Customs said, smashing the 1.9 percent forecast in a Bloomberg survey of analysts.
The huge rise was partially attributed to the low base of comparison with January-February last year, when China emerged from its strict zero-Covid measures.
Exports have been increasing since November, after six straight months of contraction.
However, concerns about the global economic outlook owing to sticky inflation and elevated interest rates continue to subdue demand for Chinese goods.
Commerce Minister Wang Wentao acknowledged the recent rebound Wednesday on the sidelines of a major political gathering in Beijing and stressed that “the overall trend is upward”.
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