China trade: strong performance in 2021, but signs of economic slowdown visible in December
- China’s exports grew by 29.9 per cent in 2021 compared to the previous year, while imports last year grew by 30.1 per cent over the same period
- In December, exports grew by 20.9 from a year earlier, while imports rose by 19.5 per cent
China enjoyed a strong trade performance in 2021, although signs of an overall economic slowdown were highlighted by slowing import and export growth in December.
Exports grew by 29.9 per cent in 2021 compared to the previous year, while imports last year grew by 30.1 per cent over the same period, customs data released on Friday showed.
In December, exports grew by 20.9 per cent year earlier to US$340.498 billion, down from the 22 per cent growth in November. This was above expectations for an increase of 20 per cent predicted in a Bloomberg survey of analysts.
Imports, meanwhile, rose by 19.5 per cent in December from a year earlier, to US$246.035 billion – down from the 31.7 per cent growth in November, and below expectations in the Bloomberg survey for growth of 27.8 per cent.
Overall, China’s total trade surplus stood at US$94.46 billion in December.
The global pandemic remains serious, the external environment is becoming more complex and uncertain, and compounded with the high base of 2021, trade in 2022 will face certain pressure