Surprise drop in China Jan exports

Shanghai

CHINA'S exports fell 3.3 per cent in January from a year earlier, while imports slumped by 19.9 per cent, both missing expectations by a wide margin, and resulting in a record monthly trade surplus of US$60 billion.

Thinking that easing measures in Europe would boost demand for Chinese goods, analysts polled by Reuters had expected exports to rise by 6.3 per cent, and imports to fall by only 3 per cent, to give a trade deficit of US$48.9 billion.