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Dec trade data beats expectation
By Wang Yanlin |
January 10, 2013, Thursday
|
Online Edition
Online Edition
China's exports surged 14.1 percent year on year in December, while imports rose 6 percent, both higher than previously expected, the General Administration of Customs said this morning.
Last year as a whole, China's exports expanded 7.9 percent to US$2.05 trillion while imports climbed 4.3 percent to US$1.81 trillion, strengthening the country's position as the world's biggest exporter and second-biggest importer.
Trade surplus in 2012 stood at US$231 billion, swelling from US$155 billion in 2011.
"The strong growth in December was much unexpected," said Li Maoyu, an analyst with Changjiang Securities Co. "It was likely driven by rising demand in the European Union and the United States as their conditions improved."
According to the Customs data, China's trade with the EU, the country's biggest trading partner, fell 3.7 percent on an annual basis in 2012, compared with a decrease of 4.1 percent in the first 11 months. Trade with the US jumped 8.5 percent last year, up from 8.2 percent during the January-November period.
Booming trade with other emerging markets also helped China to stabilize its performance last year. Its trade with South Africa and Russia climbed 31.8 percent and 11.2 percent respectively.
China introduced a batch of measures last September to stabilize its foreign trade through fee reduction, paperless clearance, and improved customs services.
Last year as a whole, China's exports expanded 7.9 percent to US$2.05 trillion while imports climbed 4.3 percent to US$1.81 trillion, strengthening the country's position as the world's biggest exporter and second-biggest importer.
Trade surplus in 2012 stood at US$231 billion, swelling from US$155 billion in 2011.
"The strong growth in December was much unexpected," said Li Maoyu, an analyst with Changjiang Securities Co. "It was likely driven by rising demand in the European Union and the United States as their conditions improved."
According to the Customs data, China's trade with the EU, the country's biggest trading partner, fell 3.7 percent on an annual basis in 2012, compared with a decrease of 4.1 percent in the first 11 months. Trade with the US jumped 8.5 percent last year, up from 8.2 percent during the January-November period.
Booming trade with other emerging markets also helped China to stabilize its performance last year. Its trade with South Africa and Russia climbed 31.8 percent and 11.2 percent respectively.
China introduced a batch of measures last September to stabilize its foreign trade through fee reduction, paperless clearance, and improved customs services.
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