BEIJING () -China’s exports and imports grew more slowly in December as the world’s second-largest economy showed signs of slowing, but exports were slightly higher than expected due to continued strong global demand.
Exports rose 20.9 percent last month from a year earlier after rising 22 percent in November 2021, according to customs data on Friday. In the survey, analysts had expected exports to increase by 20 percent.
China’s fast-growing exports showed the expected results for most of 2021 and boosted growth as several other sectors were slowing, but rising demand for goods abroad and high costs put pressure on exporters. freight is slowing down due to
According to customs data, imports in December grew by 19.5% compared to the same period last year, an increase of 26.3% and a sharp decline from the 31.7% growth forecast for November.
China announced a $ 94.46 billion trade balance last month, compared to a $ 74.50 billion surplus forecast. In November, China reported a surplus of $ 71.72 billion.
Total exports grew by 29.9 percent in 2021, up from 3.6 percent in 2020. During the year, imports rose 30.1 percent after falling 1.1 percent in 2020.
The world’s second-largest economy has experienced an impressive recovery from the pandemic, but there are signs that the pace is slowing. Property declines and strict COVID-19 restrictions are among the winds that cloud the outlook for 2022.
The official Xinhua news agency quoted a State Council meeting chaired by Premier Li Keqiang in late December as saying that the country would develop additional policies to help exporters and ease the pressure on international logistics problems.
China’s deputy trade minister said on Dec. 30 that the country will face unprecedented challenges in stabilizing foreign trade in 2022 as other exporters increase production and it is less convenient to compare.
At last month’s main meeting to set the agenda, China’s top leaders pledged to focus on stabilizing the economy in 2022 and keeping growth in a reasonable range.
Interviews by Shen Yan, Albi Zhang and Gabriel Crossley; Edited by Ana Nicolas da Costa