Financial News: Amended: China Exports Log Stronger Than Expected Growth

Amended: China Exports Log Stronger Than Expected Growth

01/16/2025 - 15:50:00 (RTTNews)

(RTTNews) - Correcting typos

China's exports registered a faster-than-expected growth in December taking the trade surplus for 2024 to a record high as businesses frontloaded orders amid looming trade tariff threats.

Data from the General Administration of Customs on Monday showed that exports advanced 10.7 percent on a yearly basis in December, faster than the 6.7 percent increase in November and also economists' forecast of 7.3 percent.

At the same time, imports increased moderately by 1.0 percent on year but confounded expectations for a decline of 1.5 percent. This follows a 3.9 percent fall in November.

Consequently, the trade surplus increased to $104.8 billion from $97.4 billion in November. The surplus was well above the expected level of $100 billion. Capital Economics economist Zichun Huang said shipments are expected to remain strong in the coming months, as US importers continue to stockpile Chinese goods ahead of tariff hikes.

However, exports are likely to weaken later this year as President Trump puts his tariff threats into action.

Imports will probably recover further in the short run as faster fiscal spending drives demand for industrial commodities, said Huang.

The customs office reportedly said that exports were up 5.9 percent and imports climbed 1.1 percent in the whole year of 2024, which led to a record trade surplus of $992.1 billion.

Elsewhere on Monday, Chinese regulators vowed to stabilize the weakening yuan. The People's Bank of China and the State Administration of Foreign Exchange said the yuan exchange rate will be kept stable at reasonable levels and efforts will be undertaken to prevent excessive volatility.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

China Data On Tap For Friday (02 hr(s), 29 min(s), 55 sec(s) ago)
(RTTNews) - China is scheduled to release a batch of data on Friday, headlining a modest day for A ...Full Story»

New Zealand Manufacturing PMI Improves To 45.9 - BusinessNZ (02 hr(s), 41 min(s), 55 sec(s) ago)
(RTTNews) - The manufacturing sector in New Zealand continued to contract in December, albeit at a ...Full Story»

Amended: China Exports Log Stronger Than Expected Growth (04 hr(s), 10 min(s), 55 sec(s) ago)
(RTTNews) - Correcting typos China's exports registered a faster-than-expected growth in ...Full Story»

Atlanta Fed Raises Q4 GDP Growth Estimate To 3% (04 hr(s), 25 min(s), 55 sec(s) ago)
(RTTNews) - The Atlanta Fed lifted its estimate for U.S. GDP growth in the fourth quarter of 2024 ...Full Story»

ECB Minutes Show Policymakers Saw Room For More Easing (07 hr(s), 33 min(s), 55 sec(s) ago)
(RTTNews) - European Central Bank policymakers were looking forward to more interest rate cuts, bu ...Full Story»

Treasury Reveals Details Of Twenty-Year Bond Auction (08 hr(s), 35 min(s), 55 sec(s) ago)
(RTTNews) - The Treasury Department on Thursday revealed the details of the first auction of twent ...Full Story»

U.S. Business Inventories Inch Up 0.1% In November, In Line With Estimates (09 hr(s), 27 min(s), 55 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Thursday showed a slight increase by b ...Full Story»

U.S. Housing Market Index Unexpectedly Inches Up To Nine-Month High In January (09 hr(s), 36 min(s), 55 sec(s) ago)
(RTTNews) - Reflecting hopes for an improved economic growth and regulatory environment, the Natio ...Full Story»