China’s exports and imports fall in December due to weak demand and low consumption

The China Customs Administration (GAC) announced that exports fell 9.9% year-on-year in December. However, December exports exceeded analysts’ expectations, falling 10% after dropping 8.7% in November.

China’s imports fell 7.5% in December as domestic consumption slumped due to COVID-19 infections, forcing people to stay home. The sharp increase came after the government lifted measures to combat COVID-19.

China’s December imports exceeded analysts’ expectations for a 9.8% decline, following a 10.6% drop in November.

China recorded a trade surplus of $78 billion in December. This figure was above analysts’ expectations of $76.2 billion and higher than in November, when it was $69.84 billion.

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