China January-February trade data - exports and imports both sharply down

Trade data for the two months is combined due to the COVID-19 outbreak (China usually releases trade data each month).

In USD terms:

• Imports down 4% y/y in yuan terms (expected was -16.6%)
• Exports down 17.2% in January and February combined (expected was -15.2%)

China's trade surplus with the United States for January-February $25.37 billion (this is a Reuters calculation) compared with a surplus of $42.16 billion for the same period last year.