- Australia: Southern Oscillation Index, RBA Balance Sheet (Apr)
- China: Manufacturing & NonManufacturing PMI, 100-City Average House Price, Guangdong Manufacturing PMI (Apr), International Reserves, Depository Corporations Survey (Mar); Korea: International Trade Press (Apr)
- Israel: Population, Housing Loans (Mar); kenya: CPI (Apr); Qatar: Population (Apr); Turkey: Cost of Living Index (Apr)
- UK: CBI Composite Indicator (Apr)
- more updates...
Economy in Brief
U.S. Employment Cost Index Remains Firm
The employment cost index for civilian workers increased 0.6% (1.9% y/y) during Q1'16...
Chicago Purchasing Managers Index Disappoints & Trends Sideways
Chicago purchasing managers reported that their Business Barometer Index declined to 50.4 this month...
Euro Area Unemployment Drops to 4.5-Year Low
EMU unemployment fell to 10.2% in March after being stuck at 10.4% for three consecutive months...
U.S. GDP Grows 0.5% in Q1'16
Growth in the U.S. economy was barely positive last quarter...
U.S. Initial Unemployment Insurance Claims Rise
Initial claims for unemployment insurance increased to 257,000 during the week ended April 23...
EU and Euro Area Show Some Improvement in April
The EU Commission Indices for the EU and EMU showed gains in April...
by Louise Curley March 12, 2012
China's exports of goods declined a record $28 billion in February and imports increased $14.4 billion leaving the country with a $19.3 billion trade deficit, the largest in recent history and $42.2 billion larger than the deficit in 2011. Total exports, imports and the balance of trade are shown in the attached chart. Trade has usually been disrupted by the Chinese New Year--exports tend to decline and imports to rise around the New Year. Until recently, however, the impact had not been particularly unusual. Last year there was a small trade deficit of $2 billions in February for the first time. This year's big deficit suggests that in the future the impact of the New Year on the economy may continue to be more significant than it has been in the past. But, if this is the case, there is likely to be some make up in the coming months when exports will increase and imports decrease
Data on Chinese trade by country, except for the United States and the European Union, are only available with delays of several months. In addition these data do not include the revisions in the data, that are made in the total trade data. However, the 27 countries of the European Union and the United States make up a significant proportion of China's trading partners. Both the United States and the European Union improved their trade balances with China. The U. S. balance declined $4.9 billion to $15.2 billion in February of this year from $20 billion in January, while that in the EU declined much more, $7.8 billion from $11.7 billion to $3.9 billion. China's exports to the U.S. declined $4 billion in January and and imports from the U. S. 1ncreased $0.7 Billion.& For the EU, exports were down $4.5 billion and imports were up $3.3 billion.
|Feb'12||Jan'11||Feb'11||M/M Chg||Y/Y Chg||2011||2010||2000|
|China Total Trade in Goods|
|Trade With USA|
|Trade With EU|