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China released its February trade data over the weekend and it showed a marked divergence in exports and imports. The former took off at 48.3% while the latter was walloped 20.6%. The two month Jan/Feb figures which help smooth out CNY holiday distortions had exports up 15% and imports down 20.2%:
Needles to say, the trade surplus hit a new record high at $60.6 billion:
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For Australia, iron ore import volumes were up 11% year-over-year but dropped 39% in value.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.