China Trade Feels West's Economic Pinch

11 March 2008

BEIJING: The US and European economic downturn has affected China's trade surplus, which plummeted 63% in February, according to government figures.

Demand abroad for Chinese goods plunged, while imports rose 35% to $78.8 billion (€51m; £39m) from the year-earlier period.

Exports increased by a modest 6.5% to $87.4bn - far lower than January's 26% growth. 

China's exports to the US fell 5% in February to $16.4bn, while imports of American goods climbed 33% to $6.1bn. Trade with the European Union narrowed by 15% to $10bn.

Data sourced from USA Today / Associated Press; additional content by WARC staff