Published on 14/01/2020 9:44:00 AM | Source: Reuters

China December trade beats forecasts: exports up 7.6%, imports up 16.3%

Posted in Top Stories| #China #World Market #Import Exports #US

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel 

Download Telegram App before Joining the Channel

BEIJING - China's exports in December rose 7.6% from a year earlier, customs data showed on Tuesday, signalling a modest recovery in demand as a preliminary trade deal with the United States raised hopes that a prolonged tariff war will be de-escalated.

It was the first time China's exports have risen since March 2019.

The median forecast from a Reuters poll of analysts had been for a 3.2% rise in exports in December, following November's 1.3% drop.

Imports in December rose 16.3% from a year earlier. The Reuters poll had forecast 9.6% growth.

China posted a trade surplus of $46.79 billion in December, compared with the poll's forecast for a $48-billion surplus, up from November's surplus of $37.93 billion.

(Reporting by Gabriel Crossley; Editing by Kim Coghill)