- Brazil: Manufacturing Confidence (Aug)
- Italy: Business and Consumer Survey (Aug)
- Mauritius: Foreign Trade (Q2); Lebanon: Public Debt (Q2); Palestine: PPI (Jul); Turkey: House Price Index (Jun)
- Mongolia: BOP (Jul); Vietnam: FDI by Industry (Aug); Taiwan: Excess Reserves (Jul); Singapore: WPI (Jul); Hong Kong: Retail Sales (Jul)
- Greece: GDP (Q2)
- Serbia: Public Finance (Jul); Bulgaria: Business Survey (Aug),
- more updates...
Economy in Brief
Euro Area Money and Credit Policy: A Total Bust
Despite best efforts to boost growth inflation money and credit, the ECB's `whatever it takes' kitchen sink policies are not getting traction...
U.S. Durable Goods Orders Increase Is Broad-Based
New orders for durable goods rose 4.4% during July (-3.3% y/y) following a 4.2% June decline...
U.S. Initial Unemployment Insurance Applications Decline
Initial claims for unemployment insurance eased to 261,000 (-4.0% y/y) during the week ended August 20...
German IFO Survey Fades
All components of the IFO index except construction demonstrated a significant monthly fade in August...
U.S. Existing Home Sales and Prices Weaken Unexpectedly
Sales of existing homes declined 3.2% (-1.6% y/y) during July to 5.390 million units (AR)...
U.S. FHFA House Price Index Loses Momentum
The FHFA index of U.S. house prices rose a modest 0.2% in June for the third consecutive month...
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|