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China December trade data shows exports and imports both gained y/y
China's December Trade Balance (in yuan terms CNChina's December Trade Balance (in yuan terms CNY) is a surplus of 540.9bn. • Prior surplus, in November, was 490.8bn. • Exports +3.8% y/y in December, prior +1.7%. • Imports +1.6% y/y in December, prior +0.6%. In US dollar terms, the trade balance is a surplus of 75.34bn. • Expected 74.75bn, prior 68.39bn. • Exports +2.3% y/y (expected +1.7%, prior +0.5%). • Imports +0.2% y/y (expected +0.3%, prior -0.6%). *** China's customs agency says out of major exporters it surveyed, 75% expect exports to remain the same or rise in 2024.
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China posts higher-than-expected exports growth in December
China’s exports rose more than expected in December, but failed to offset an overall decline for 2023, customs data showed Friday. Exports rose by 2.3% year on year in U.S. dollar terms last month, more than the 1.7% increase forecast by a Reuters poll. For 2023, exports fell 4.6% while imports dropped 5.5%, according to customs data. Imports rose by 0.2% in December from a year earlier in U.S. dollar terms. That’s slightly less than the 0.3% increase analysts polled by Reuters had expected. Demand for Chinese goods has fallen amid slower global growth. video “Chinese manufacturers anticipate production to ... (full story)