China's Exports Down 9.9 Pct In December| MENAFN.COM

Thursday, 02 February 2023 09:46 GMT

China's Exports Down 9.9 Pct In December


(MENAFN- Kuwait News Agency (KUNA)) TOKYO, Jan 13 (KUNA) -- China's exports fell 9.9 percent from a year earlier in December in US dollar terms to USD to 306.08 billion amid weaking global demand, government data showed Friday.
The exports marked the third consecutive monthly decline and the sharpest fall since February 2020, according to the General Administration of Customs.
Imports by the world's second-largest economy also shrank 7.5 percent to USD 228.07 billion, down for the third month, while the monthly trade surplus stood at USD 78.01 billion.
Exports to the Association of Southeast Asian Nations (ASEAN), China's largest trade partner grew last month 7.5 percent from the year before, while sales to the EU plunged 17.5 percent and the US 19.5 percent, respectively, the customs agency said.
For all of 2022, the trade surplus still marked a record high of USD 87.76 billion, with exports increasing 7.0 percent and imports 1.1 percent, respectively.
In a statement to Xinhua News Agency, Bureau spokesperson Lyu Daliang said that ' China's foreign trade delivered breakthroughs in scale, quality, and efficiency last year, which is a hard-won feat considering headwinds in demand, supply, and expectations'.
' In 2022, China rolled out policies dynamically to bolster growth, including that of foreign trade.
The package of policies and their follow-up measures to shore up economic recovery have paid off, unleashing the vitality of trade entities,' said Lyu.
He added that specifically authorities have sought to ramp up financial and fiscal support to foreign trade firms, increase export tax rebates, explore new markets, stabilize industry chains, and smooth logistics. (end)
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