China's foreign trade deficit hits 60B yuan in Feb.

China's foreign trade deficit hits 60B yuan in Feb. [File photo / Xinhua]

China saw a deficit of 60.36 billion yuan (US$8.75 billion) in foreign trade in February of 2017. The total export and import value increased 21.9 percent year on year to 1.71 trillion yuan in February 2017.

In February, its exports increased 4.2 percent to 826.32 billion yuan year on year, while its imports rose 44.7 percent to 886.68 billion yuan year on year.

China's total export and import value increased 20.6 percent year on year to 3.89 trillion yuan in the first two months of 2017.

In the first two months of 2017, the country's exports increased 11 percent to 2.09 trillion yuan year on year, while imports rose 34.2 percent to 1.8 trillion yuan year on year. China's foreign trade surplus was 293.65 billion yuan, a drop of 46.1 percent year on year.

In the first two months of 2017, the EU remained China's top trade partner, followed by the U.S., ASEAN and Japan. The total trade value between China and the EU rose 15 percent to 583.02 billion yuan, accounting for 15 percent of China's total foreign trade value. China's foreign trade surplus with EU was 130.16 billion yuan, a 12.6 percent drop year on year.

The price of imports of commodity goods such as iron ore, crude oil, coal and copper posted strong increases in the first two months, up 83.7 percent, 60.5 percent, 48.5 percent and 31.5 percent, respectively. Also, the amount of imported cars rose 41.3 percent to 160,000 year on year in the first two months of 2017.