That’s China’s trade surplus — in January.
It is the widest gap between imports and exports reported by Beijing in a January since 2009.
Yet, the growth projected for China’s economy this year marks the slowest pace in 24 years.
China’s exports exceeded estimates in January while import growth unexpectedly accelerated, Bloomberg’s Rachel Butt reports, defying signs that the world’s second-largest economy is losing momentum amid efforts to tame credit.
Overseas shipments rose 10.6 percent from a year earlier, the General Administration of Customs said in Beijing, “a pace that may be distorted by fake invoices and holidays and compares with the median projection of economists for a 0.1 percent gain.”
Imports advanced 10 percent, leaving a trade surplus of $31.9 billion, the widest for January since 2009.
Strength in global and domestic demand would support growth this year projected by analysts for the slowest pace in 24 years.