China’s imports rise, exports fall in Dec
Chinese imports in December climbed by 3.1% year over year, which was in line with the expectations but slower than an increase of 6.7% in November
Exports, however, posted a decrease of 6.1% in December after a small increase of 0.1% in November and beat the analysts’ expectations of a 3% drop. Overall in 2016, both exports and imports fell by 7.7% and 5.5% respectively.
China posted a trade surplus of $40.82 billion in December when compared to $44.61 billion in November. Overall in 2016, the trade surplus narrowed to $510 billion from $594.5 billion in 2015.
The reports revealed that the decline in exports were driven by the decrease in sales as a result of the increasing materials costs which pushed the prices up. The upward movement of prices were also reported to cause a decrease in orders and profits whereas the the jump in imports was attributed to the higher global commodity prices, which is estimated to moderate in the following months.
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