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According to the median estimate of 30 economists in a Reuters poll, China’s, the world’s largest trading nation, exports and imports both are seen falling for the second straight month in January.

Key Findings:

“Imports are expected to have fallen 10.0 percent in January from a year earlier, which would be the biggest decline since July 2016.

That compared with a 7.6 percent drop in December.

China’s exports in January also likely contracted, though not as much. Outbound shipments are expected to have fallen 3.2 percent from a year earlier, compared with the previous month’s 4.4 percent decline.

China’s overall trade surplus is seen to have shrunk sharply to $33.5 billion in January from $57.06 billion the previous month.

Most  of the poll respondents penciled in a contraction in imports for January, with the lowest forecast projecting a 20.1 percent drop.”

China Customs is likely to report the trade balance figures on Thursday, February 14th.