China’s Trade Balance – December 2012
January 10, 2013 10:26 am GMT+0 in China
China reported a robust export performance in December that boosted its trade balance much beyond the consensus estimate.
The country’s trade balance for December was a positive $31.6 billion, rising 61% from the November surplus of $19.6 billion. Analysts had expected a surplus of only $20 billion.
Exports soared by 14.1% (y-on-y) while imports grew 6%.
Cumulative trade surplus achieved during the full year 2012 surged to $231.1 billion, a growth of over 48% over the 2011 level.
Though the country failed its target of achieving a growth of 10% in its trade volume (total of exports and imports), clocking only a 6.2% growth, Chinese authorities said the performance was creditable in the context of a slowing global economy and a domestic slowdown.