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China reports large trade deficit as imports surge
Published on: 2012-03-12
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China posted a record trade deficit in February as commodity imports surged raising fears for the health of the global economy.

Imports rose 39.6% from a year earlier, while exports rose at a much slower 18.4%, resulting in a trade deficit of $31.5bn (£20bn).

China has been running a trade surplus for much of the last decade.

The surge in imports was led by crude oil, with shipments hitting a record-high of 5.95m barrels per day.

The oil price has been rising recently amid fears of supply disruptions in the Middle East.

China's imports of copper and iron ore also rose during the month.

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