China Jan-Feb exports, imports seen slumping as coronavirus hits output, supply chains
China Jan-Feb exports, imports seen slumping as coronavirus hits output, supply chains.
BEIJING (Reuters) – China’s exports and imports likely tumbled in the first two months of the year, a Reuters poll showed, as the health crisis triggered by the coronavirus epidemic disrupted businesses and production and wreaked havoc along global supply chains.
Exports from the world’s second-largest economy are expected to have sunk 14% in January-February from a year earlier, according to a median estimate from the survey of 25 economists, marking the steepest fall since February 2019.
Imports likely skidded 15% from a year earlier in the same period, the biggest contraction since January 2016 and a sharp contrast from the 16.5% growth posted in December.
China’s customs said last month it would combine January and February preliminary trade data
