China export grows 18.1% in December , imports quicken

[xizhimen]

China export grows 18.1% in December , surplus surges
By Reuters Staff
JANUARY 14, 202110:31 AM

BEIJING (Reuters) - China’s exports grew more than expected in December, albeit at a slower pace than the month before, as global demand for Chinese goods remained solid, while import growth quickened, customs data showed on Thursday.

Exports rose 18.1% in December from a year earlier, slowing from a 21.1% jump in November. Analysts in a Reuters poll had expected exports to grow 15% year-on-year last month.

Imports meanwhile rose 6.5% in December from a year earlier, quickening from 4.5% growth in November and beating expectations for a 5% increase in the Reuters poll.

Analysts have said Chinese exports will continue to be supported by demand for medical supplies and work-from-home products in major trading partners struggling with fresh waves of coronavirus infections.


But there are some concerns that a rise in raw material prices and a recent rally in the local currency could squeeze exporters’ profits. The onshore yuan strengthened 6.7% in 2020 -- its first annual rise in three years.

China posted a trade surplus of $78.17 billion in December. Analysts in the poll had expected the trade surplus to narrow to $72.35 billion from $75.40 billion in November.

Its trade surplus with the United States narrowed to $29.92 billion in December from $37.42 billion in November.

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.

www.reuters.com

 

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China 2020 exports up despite virus; surplus surges to $535B​

Posted Wednesday, January 13, 2021 8:51 pm
BEIJING (AP) — China’s exports rose in 2020 despite pressure from the coronavirus and a tariff war with Washington, boosting its politically volatile trade surplus to $535 billion, one of the highest ever reported.

Exports increased 3.6% over 2019 to $2.6 trillion, an improvement over the previous year's 0.5% gain, customs data showed Thursday. Imports edged down 1.1% to just over $2 trillion, though the trend strengthened later in the year after China became the first major economy to rebound to growth after the pandemic.
Exports to the United States rose 7.9% to $45.2 billion despite tariff hikes imposed on most Chinese imports by the Trump administration in a feud with Beijing over technology, trade and security. Imports of U.S. goods rose 9.8% to $13.5 billion, boosted by Beijing's promise to narrow its trade surplus by purchasing more American soybeans and other exports.

China’s exporters benefited from the relatively early reopening of its economy and demand for masks and other Chinese-made medical supplies. Exporters have taken market share from foreign competitors that still face curbs imposed to fight the pandemic.

Exports surged 18.1% in December over a year earlier to $281.9 billion. Imports rose 6.5% to $203.7 billion.

Imports are likely to drop back as Beijing scales back higher government spending and other support to economic activity, Julian Evans-Pritchard of Capital Economics said in a report.

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“Further ahead, the current strength of exports is unlikely to be sustained indefinitely, especially given that consumption patterns overseas should gradually return to normal as vaccines are rolled out,” he said.

China 2020 exports up despite virus; surplus surges to $535B

BEIJING (AP) — China’s exports rose in 2020 despite pressure from the coronavirus and a tariff war with Washington, boosting its politically volatile trade surplus to $535 billion, one of the …

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