China Exports Spike To Highest In Decades After Covid-19 Hit
Sumaira FH Published March 07, 2021 | 10:10 AM
Beijing, March 7 (UrduPoint / Pakistan Point News - 7th Mar, 2021 ) :China's export growth jumped to the highest in over two decades, official data showed Sunday, with imports also surging in a sharp bounceback from the coronavirus outbreak that had brought activity to a near halt.
Electronics and textile exports such as masks contributed to the spike in outbound shipments, as demand for work-from-home supplies and protective gear against the virus outbreak soared during the pandemic.
Exports spiked 60.6 percent on-year in the January-February period, well above analysts' expectations, while imports rose 22.2 percent, official data showed Sunday.
The latest customs figures stand in stark contrast to last year's fall of around 17 percent in exports and 4 percent drop in imports.
The country struggled to contain the spread of Covid-19 early on, with consumers staying home and businesses seeing a slow return to operations.
The customs administration said comparison to last year is also likely to have bolstered the latest figures, saying in a statement that the "low base is one of the reasons for the larger increase this year." On Sunday, official data showed that electronics exports rose 54.1 percent, while textiles including masks rose 50.2 percent.
China's overall trade surplus came in at $103.3 billion, its customs administration said.
Chinese authorities started combining January and February trade data last year, while it battled the coronavirus outbreak.
This is in line with how some other indicators are released, to smooth over distortions from the Lunar New Year holiday, which can fall in either month.
Recent Stories
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
Dutch model Donny Roelvink embraces Islam
Experts raise concerns over introduction of 10-stick packs
Iranian president arrives in Karachi
Law Minister expresses Govt's resolve to address issue of missing persons
Rizwan’s batting order may be changed: Sources
Nawaz Sharif to visit Guangzhou exhibition in China
FM Dar not traveling to China: Foreign Office
PM takes notice of deliberate delay in tax cases
Iranian President visits Allama Iqbal’s mausoleum
Iranian President arrives in Lahore today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 23 April 2024
More Stories From Miscellaneous
-
PDMA predicts gusty wind, rain with thunder, hails
8 hours ago -
Iranian president Raisi given guard of honour at PM House
2 days ago -
Intellectuals, writers accolades Naseer Mirza on his literary contribution
2 days ago -
Bahawalpur Adabi Sangat hosts memorable mushaira
2 days ago -
Cattle farming vital to alleviate poverty in rural areas
3 days ago -
Pakistan: A land of tourism, archeological wonders
3 days ago
-
Transforming education sector: from job hunters to job creators
5 days ago -
Amjad Bobby remembered on 19th death anniversary for timeless contributions to music
9 days ago -
Legendary actor Nadeem’s 26 films released on Eid-ul-Fitr days in 50 years
9 days ago -
Besant Hall Cultural Centre to celebrate evening with Sanam Marvi on 26 April
10 days ago -
Radio Bahawalpur presents program “Eidi Shidi”
13 days ago -
Radio Bahawalpur to broadcast Eid programs
15 days ago