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Market Update

Chinese 10% Export Rise Surprises Analysts

Author: Bikram Pandey
Last Update: 2:12 AM ET February 12 2014

China reported a sharp jump in exports in January, surprising many analysts who were looking for a near flat growth in January.

Customs Administration in China reported exports in January increased 10.6% from a year ago, surpassing the highest estimate of 2% increase.

Imports also gained 10% from a year ago, as the second largest economy in the world imported record amount of iron ore, crude oil and copper.

Trade surplus in the month increased to $31.9 billion from $25.6 billion in December.

Analysts were surprised with the surge in exports and many were expecting a slowdown ahead of Chinese Lunar New Year.

Chinese data are seen with a skepticism as many exporters use weak months to recycle money from overseas to skirt capital control rules.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc