11:01 08 March 2013
The start of each year can present a challenge to some businesses in China, as the Chinese New Year celebrations may affect them because many factories close over the holidays. Although, the country has seen a 21.8per cent rise in exports year on year for February.
With the New Year falling in February this 2013, whereas last year the Lunar New Year occurred in January, this may have slowed China’s export growth slightly compared to the year before. But overall the news looks positive for export trading.
A senior economist from Credit Agricole CIB, Dariusz Kowalczyk, told the BBC that the New Year can present issues when it comes to analysing business figures. He said: “Since the factories worked for a fewer number of days, they imported far less raw materials than they would normally have done.”
He added: “That is why you have to combine the data for January and February to see the real picture.”
News is not so great when it comes to China’s imports however. It is understood that the country suffered a fall in imports by 15.2per cent this year. This is compared to the figure from 2012.
But, the export figures have reflected a rise, and this area of trade is seen by some as being important for the country’s growth.
The Chinese New Year, which fell on Sunday, 10th February, is a traditional holiday for the country. The Chinese calendar is based on the operations of the moon.
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