China Reports Rare Trade Deficit

Posted March 10th, 2012 at 2:00 am (UTC-5)
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Chinese officials on Saturday reported a huge trade deficit in February, as imports swamped exports, to leave the largest deficit in at least a decade.

Customs data showed that exports in February earned $114.5 billion, while imports stood at $145.9 billion. The $31.4 billion deficit was the largest since the mid-1990s, and a rare exception to a recent string of multi-billion-dollar surpluses.

Analysts say efforts to sell to China's major trading partners in the West are suffering from the effects of the eurozone debt crisis and weak economic recovery in the United States.