China's exports surged more than expected last month in a possible sign ofstronger global demand.
Exportsleaped 21.8 percent in February, slower than the 25 percent growth recorded inJanuary but still a surprise to economists who had been forecastingsingle-digit growth for the month. That's because the timing of a major holidayhad been expected to crimp shipments.
Imports fell15.2 percent last month, a sharp turnaround from 28 percent growth in January,according to data released Friday. That suggests weaker domestic demand but thepicture is clouded by Lunar New Year holidays.
China'strade growth has been rebounding in recent months in a sign of recovery in theworld's second biggest economy.
February hadbeen expected to be weak because the Lunar New Year holiday fell during themonth, leaving fewer work days as businesses shut for up to two weeks. Lastyear the holiday occurred in January, which flattered the performance of tradein the first month of this year.
"We areimpressed by China's ability to expand its exports so strongly despite a mutedexternal environment," Darius Kowalczyk, a strategist with Credit AgricoleCIB said in a report.
Exports roseto $139.4 billion while imports declined to $124.12 billion, resulting in a tradesurplus of $15.2 billion.