FOREX TradingCharts.com

Financial News: China December Exports Fall Most Since 2016

China December Exports Fall Most Since 2016

01/14/2019 - 03:40:00 (RTTNews)

(RTTNews) - China's exports and imports in December declined at the worst rates in two years, adding to evidence of a rapid slowdown in the economy amid the trade war with the US and weakening global activity.

Exports dropped 4.4 percent year-on-year in December, figures from the General Administration of Customs showed on Monday. That was in contrast to the 3 percent gain economists had predicted.

Imports decreased 7.6 percent from a year ago, defying expectations for a 5 percent rise.

Both exports and imports outcome was the worst since 2016. In December, the trade surplus was $57.1 billion.

"This [decline in exports & imports] is likely to continue into 2019 due to falling foreign demand, including demand for Chinese-made electronic products," ING economist Iris Pang said.

For 2018 as whole, exports grew 9.9 percent imports rose 15.8 percent, resulting in a trade surplus of $351.8 billion, which was over 30 percent lower than a year ago.

The trade with the US yielded a surplus of $323.3 billion, which according to Reuters was the highest on records dating back to 2006.

The record trade surplus is likely to prompt the US to put more pressure on China to change its trade practices.

Exports to the US rose 11 percent in 2018, while imports were unchanged.

Early January, the Chinese and US officials held talks to diffuse the trade tensions. Talks were aimed at persuading the US to cancel its plan to raise tariffs on imports from March 2.

Reports suggested that the talks went well, but details are yet to emerge.

"The US will likely experience a slowdown later in the year due to a combination of weakening fiscal stimulus and higher prices of inputs stemming from tariffs," ING's Pang said.

"Major European countries are also struggling to maintain growth and combined with a weaker US, provides a challenging external demand backdrop for China's exports in 2019," the economist added.

China's government is reportedly planning to set a growth target of 6-6.5 percent for this year, which is lower than the about 6.5 percent aimed for 2018.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Consumer Sentiment Plunges To Lowest Level Since Trump's Election (27 sec(s) ago)
(RTTNews) - Consumer sentiment in the U.S. has seen a substantial deterioration in the month of Ja ...Full Story»

Portugal Producer Price Inflation Slows For Second Month (48 min(s), 27 sec(s) ago)
(RTTNews) - Portugal producer price inflation slowed for a second straight month in December, figu ...Full Story»

Eurozone House Price Growth Retains Momentum In Q3 (30 min(s), 27 sec(s) ago)
(RTTNews) - Eurozone house prices grew at a robust rate in the third quarter, albeit slightly slow ...Full Story»

U.S. Industrial Production Rises Slightly More Than Expected In December (24 min(s), 27 sec(s) ago)
(RTTNews) - With jumps in manufacturing and mining output more than offsetting a sharp pullback in ...Full Story»

Swiss Producer And Import Price Inflation Lowest In 16 Months (20 min(s), 27 sec(s) ago)
(RTTNews) - Switzerland's producer and import prices grew at the weakest pace in sixteen month ...Full Story»

UK Retail Sales Fall Worst Since May 2017 (35 min(s), 27 sec(s) ago)
(RTTNews) - UK retail sales decreased in December at the fastest pace in over one-and-a-half years ...Full Story»

Eurozone Current Account Surplus Falls In November (07 min(s), 27 sec(s) ago)
(RTTNews) - Eurozone current account surplus decreased in November, led by a decline in the surplu ...Full Story»

UK Retail Sales Fall Most Since May 2017 (08 min(s), 27 sec(s) ago)
(RTTNews) - UK retail sales decreased in December, marking the worst decline in over one-and-a-hal ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Plunges To Lowest Level Since Trump's Election

01/18/2019 - 10:16 AM (RTTNews)
(RTTNews) - Consumer sentiment in the U.S. has seen a substantial deterioration in the month of Ja ...Full Story>>

Portugal Producer Price Inflation Slows For Second Month

01/18/2019 - 10:04 AM (RTTNews)
(RTTNews) - Portugal producer price inflation slowed for a second straight month in December, figu ...Full Story>>

Eurozone House Price Growth Retains Momentum In Q3

01/18/2019 - 09:46 AM (RTTNews)
(RTTNews) - Eurozone house prices grew at a robust rate in the third quarter, albeit slightly slow ...Full Story>>

U.S. Industrial Production Rises Slightly More Than Expected In December

01/18/2019 - 09:40 AM (RTTNews)
(RTTNews) - With jumps in manufacturing and mining output more than offsetting a sharp pullback in ...Full Story>>

Swiss Producer And Import Price Inflation Lowest In 16 Months

01/18/2019 - 09:36 AM (RTTNews)
(RTTNews) - Switzerland's producer and import prices grew at the weakest pace in sixteen month ...Full Story>>
These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.