Chinese Exports Surge Again, Up 21.8%

This compares with a 28.8 percent rise in January.

But Chinese exports crushed expectations again rising 21.8 percent on the year, against consensus for an 8.1 percent rise.

The trade balance narrowed to $15.25 billion, but was above expectations for a deficit of $6.9 billion.

Bank of America's Ting Lu had predicted a 9.5 percent decline in exports because of the impact of the Chinese New Year. This differs significantly from the consensus view. Economists however consider this data with a pinch of salt because of distortions caused by the long holiday. Instead, the prefer to look at January-February data together.