China's trade surplus rises to $32 billion

According to the latest data released, the total trade surplus of China rose to $31.9 billion during the month of January.

The rising trade surplus has helped address concerns that the world's second largest economy might be facing a slowdown. The figure of $31.9 billion is about 14 per cent higher than the previous year and stronger than forecasts for a $23.7 billion surplus. The total imports into the country increased by 10.6 per cent from a year earlier, which is much lower than forecasts, to $207.13 billion.

The growing trade surplus has backed suggestions that China might overtake US as the largest trading nation in the world. China is already the world's largest exporter and analysts expected toe trade to be affected due to the China's biggest annual holiday, the Lunar New year.

China is expected to post its slowest growth in over a decade this year as its GDP will grow slower than earlier. However, the growth will still be much higher than the advanced western economies. The Chinese economy is expected to grow as the global economy records a strong recovery.

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