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Chinese imports grew by 4.2% in February, showed signs of economic recovery
Posted on March 27, 2023 |
In February, imports grew by 4.2% from a year ago to $197 billion after falling 21.4% in January, to erase 4 months of decline; The trade surplus narrowed to $16.8 billion on rising imports, the lowest level since March 2021.
Exports fell annually by 1.3% to $ 214 billion, slowing down by 10.5% recorded in the previous month
The Chinese economy is recovering after Beijing's impulsive abandonment of the "Zero Coved" strategy at the end of 2022.
High imports affirm the recovery of Chinese demand for world goods with improved momentum in domestic consumption.
Beijing expects consumer spending will contribute to facing the impact of declining exports, the weak real estate market, and the shrinking of government resources, as it aims to achieve growth of 5% in 2023.