Beijing: China’s export and imports grew slower in December because the second largest economy in the world showed signs of slowing, but exports came just above expectations, supported by sustainable global demand.
Exports rose 20.9% year-on-year last month after an increase of 22% in November 2021, customs data showed on Friday.
Analyst in Reuters polls expect exports to increase by 20%.
China’s export boom outperformed expectations for most of 2021 and maintained growth because several other sectors faltered, but shipping has slowed as a surge abroad in the demand for goods and high cost pressure exporter.
Imports rose 19.5% year-to-year in December, customs data showed, the loss of estimates of 26.3% rose and sharply fell from a 31.7% increase in November.
China posted a trade surplus of $ 94.46 billion last month, versus an estimated surplus of $ 74.50 billion in polls.
China reported a surplus of $ 71.72 billion in November.
For all 2021, total exports rose 29.9%, compared with a 3.6% increase in 2020.
Imports for the year rose 30.1% percent, after falling 1.1 percent by 2020.
The second largest economy in the world has done Impressive pandemic recovery from pandemic but there are signs of marked momentum.
The decline in property and the strict Covid-19 sidewalk is among headwinds obscure the prospect for 2022.
The country will launch more policies to help exporters and facilitate the pressure of international logistics problems, the official Xinhua news agency said at the end of December, quoted a Council Meeting of the State Council chaired by Premier Li Keqiang.
The Chinese Deputy Commerce Minister said on December 30 that the country would face unprecedented difficulty levels in stabilizing foreign trade in 2022, such as other exporters increased production and amid a less favorable basis of comparisons.
At the main agenda meeting meeting last month, Chinese top leaders promised to focus on stabilizing the economy and maintaining growth in a reasonable range in 2022.