China’s exports and imports grow more slowly in December

BEIJING: China’s exports and imports grew more slowly in December as the world’s second-largest economy showed signs of slowing, but exports came in just above expectations, buoyed by ongoing solid global demand.
Exports rose 20.9% year-on-year last month after increasing 22% in November 2021, customs data showed on Friday. Analysts in a Reuters poll had expected exports to increase 20%.
China’s booming exports outperformed expectations for much of 2021 and buoyed growth as several other sectors were faltering, but shipments have been slowing as an overseas surge in demand for goods eases and high costs pressure exporters.
Imports rose 19.5% year-on-year in December, the customs data showed, missing a forecast 26.3% rise and sharply down from a 31.7% gain in November.
China posted a trade surplus of $94.46 billion last month, versus a forecast for a $74.50 billion surplus in the…

Source link