Containers sit on the port of Yangshan in Shanghai, China on August 6, 2019.
Ali song | Reuters
BEIJING – China’s exports grew slightly more than expected in December, while imports were lower than expected, according to customs data released on Friday.
Exports grew by 20.9% year-on-year in US dollars, more than the 20% increase forecast by a Reuters poll.
Imports rose 19.5% against the US dollar, not expected to increase by 26.3%.
The number of December a Severe recession since November When imports increased by 31.7% year-on-year. Exports in November increased by 22% year-on-year.
“We expect China’s exports to remain strong in Q1 due to global demand and a growing epidemic in many developing countries,” said Xie Zhang, chief economist at Pinpoint Asset Management.
“Currently only strong exports can be the only driver to help China’s economy. We expect infrastructure investment to be the second impetus in the next few months,” he said.
US trade with China is on the rise
As a single nation, the United States was China’s largest trading partner. Data shows that only the two regions, the Association of Southeast Asian Nations and the European Union, traded more with China in 2021.
Exports to the United States increased by 27.5% year-on-year to $ 576.11 billion, while imports increased by 32.7% to $ 179.53 billion, according to customs data.
That means China’s trade surplus with the United States for 2021 is $ 396.58 billion, a surplus that has risen since the fall between 2018 and 2019 amid trade tensions with the United States.