7 Mar 2022
China's Export Growth Slows; Ukraine Crisis Poses Risk for Global Trade
The Index Today
Latest data released shows that China's export growth slowed in the January-February period due to the week-long Lunar New Year holiday and though the data beat expectations; while the invasion of Russia in Ukraine has boosted precariousness over the outlook for global trade this year.
Latest data shows that the outbound shipments rose 16.3% in the first two months of the year from the same period a year earlier, official data showed on Monday, beating analyst expectations for a 15.0% rise, but down from 20.9% gain in December. Imports increased 15.5%, easing from a 19.5% gain in December and below the forecast 16.5% increase.
Louis Kuijs, Asia Pacific chief economist at S&P Global (NYSE:SPGI) Ratings said, "These numbers will probably be well received. China's exports are high and also the imports are continuing."
"We need to see how long the economic impact (from the Ukraine crisis) will last. China's economy overall is big and should be to able to continue to grow even in the face of external shocks but export growth will be affected," he added.