China’s export growth beats expectations on resilient global demand
Chinese exports grew more than expected in December, customs data showed on Thursday, as coronavirus disruptions around the world fuelled demand for Chinese goods even as a stronger yuan made shipments more expensive for overseas buyers.
A robust domestic recovery also spurred Chinese appetite for foreign products in December, with import growth quickening from the month prior and beating expectations in a Reuters poll.
Exports rose 18.1% in December from a year earlier, slowing from a 21.1% jump in November but beating expectations for a 15% rise. Imports increased 6.5% year-on-year last month, topping a 5% forecast and picking up pace from November’s 4.5% growth.
China posted a trade surplus of $78.17 billion in December — the highest reading on Refinitiv records going back to 2007. Analysts in the poll had expected the trade surplus to narrow to $72.35 billion from $75.40 billion in November.