- Finland: Prices of Dwellings in Housing Companies (Jul)
- New Zealand: International Reserves, RBNZ Analytical Accounts (Jul); Australia: Foreign Exchange Turnover (Jul)
- Japan: Labor Force Survey, Index of Living Expenditures, CPI, Import and Export Price Index, Input Output Prices, Employment Referral Statistics (Jul); Wholesale and Retail Trade (Jul-Prelim)
- UK: GFK Consumer Confidence (Aug)
- Vietnam: Non Performing Loans (Jun); Hong Kong: Personal Bankruptcy Petitions (Jul); Thailand: IP (Jul)
- more updates...
Economy in Brief
U.S. Pending Home Sales Post Limited Gains
The NAR reported that pending sales of single-family homes rose 0.5% during July (7.2% y/y)...
U.S. Initial Claims for Unemployment Insurance Decline
Initial claims for unemployment insurance eased to 271,000 (-8.9% y/y) during the week ended August 22...
French Business Climate Holds Recent Gains
The INSEE business climate indictor was at 103 in August, the same level as July and May...
U.S. Durable Goods Orders Beat Expectations, Led Higher by Civilian Capital Goods
The factory sector is moving onto a firmer footing...
U.S. Mortgage Loan Applications' Gain Led by Purchases
The MBA total Mortgage Market Volume Index improved 0.2% last week (17.4% y/y)...
U.K. Retail Sales Perk Up
The CBI survey of UK retail sales advanced in August...
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|