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MNI DATA IMPACT: China Sees Trade Deficit as Virus Cuts Export 

     BEIJING (MNI) - China recorded its first trade deficit in two years as
exports plunged more severely than imports during the coronavirus outbreak,
official data of the first two months released on Saturday showed. The fall in
imports was moderated by a surge in purchases of protective medical equipment
from overseas, according to the customs authority. 
     Here are the key takeaways:
     - Trade deficit in Jan-Feb was $7.09 billion.
     - Exports fell 17.2% y/y to $292.45 billion. Imports dropped 4.0% to
$299.54 billion. 
     - The coronavirus outbreak and the extension of the Chinese New Year
contributed to the poor trade performance, according to customs announcement. 
--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
[TOPICS: M$A$$$,M$Q$$$,MI$$$$,MT$$$$]
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China Market NewsPolicy NewsBellAPACChinaJapanAustraliaNew ZealandRegion
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