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Financial News: China's Exports Rise More Than Forecast

China's Exports Rise More Than Forecast

01/12/2018 - 01:33:00 (RTTNews)

(RTTNews) - China's exports grew more than expected in December on global recovery but the pace of expansion slowed from November.

Exports grew 10.9 percent year-on-year in December, data from the General Administration of Customs showed Friday.

The annual rate was faster than the expected 10 percent but slower than the 12.3 percent increase registered in November.

Imports climbed 4.5 percent annually, which was much weaker than the 14.8 percent increase economists' had forecast and November's 17.7 percent rise.

As a result, the trade surplus rose to $54.69 billion in December, while it was forecast to fall to $37.4 billion.

For the full year of 2017, exports increased 7.9 percent and imports advanced 15.9 percent.

China's trade surplus with the United States reached $275.8 billion in 2017 and the monthly surplus with the U.S. was $25.6 billion in December.

In contrast to 2017, Julian Evans-Pritchard, an economist at Capital Economics, expects exports to fare better than imports this year as outbound shipments continue to be supported by strong foreign demand even as slowing investment and weaker industrial activity weighs on the pace of inbound shipments.

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