China’s Export Growth Exceeds Expectations, Supported by Strong Global Demand

China’s exports increased more than expected in December, customs data said on Thursday, January 14th, as demand for Chinese goods rose due to disruptions caused by the Coronavirus around the world, even as the rise of the yuan made exports more expensive for overseas buyers.

A strong domestic recovery also boosted Chinese appetite for foreign products in December, as import growth accelerated compared to the previous month and beat expectations in a Reuters poll.

Exports rose 18.1% in December compared to the same period a year earlier, slowing from the 21.1% jump in November, but exceeded expectations for a 15% rise.

Imports rose 6.5% year on year last month, beating expectations for a 5% rise and accelerating from a 4.5% rise in November.

China recorded a trade surplus of 78.17 billion dollars in December, the highest reading on Refinitiv since 2007. Economists in the survey had expected the trade surplus to drop to 72.35 billion dollars from 75.4 billion dollars in November.