March 2013 Trade Bulletin

Highlights of this month’s edition

• U.S. Trade with China: Exports to China improving, shoring up overall U.S. exports; more technology-intensive products; debates in Washington about currency manipulation

• Sector Spotlight Oil & Gas: China becomes world’s leading oil importer; China’s overseas oil production set to double by 2015; death of Chavez exposes risks of China’s energy-backed loans

• China’s Economy: Zhou Xiaochuan to remain at PBOC and new Finance Minister appointed; business subdued but exports up in January; ongoing concerns about the reliability of China’s GDP statistics; first drop in net FDI since 2009; major intervention by the PBOC to stem inflation