China's January exports surge 21 per cent

China's exports rose 21 per cent year-on-year in January as the growth in its overall trade accelerated to 44.4 per cent in the first month of the current year.

January exports rose 21 per cent from a year earlier, up from 17.7 per cent growth in December while imports during January decreased 15.1 per cent from the previous month.

At $204.78 billion, China's trade volume in January 2010 was up 44.4 per cent year-on-year and down 15.7 per cent from December 2009, data released by China's General Administration of Customs showed.

China's January exports were up 21 per cent year-on-year and down 16.3 per cent at $109.48 billion while imports in the month were up 85.5 per cent year-on-year and down 15.1 per cent from December 2009 at $95.31 billion.

The country's trade surplus over January decreased 63.8 per cent year-on-year to $14.16 billion, Xinhua news agency reported on its website.

Imports in January 2010 zoomed due a week-long luanar year-end in January last year when companies were idled with a weeklong Lunar New Year holiday.

Booming Chinese trade data also point to a global recovery from the slump that also battered Chinese exporters of shoes, toys and other low-cost goods and wiped out millions of factory jobs.

The value of the yuan vis-à-vis the US dollar also remained frozen since late 2008 as the government tried to keep China's exporters competitive.