January 16, 2023
China’s exports and imports decreased at the end of the year, according to reports from the General Administration of Customs.
In December, exports reported a yearly decline of 9.9 percent, virtually exactly in line with economists’ expectations of a -10.0 percent decline.
In contrast to the predicted 9.8 percent decline, imports fell by 7.5 percent from the previous year.
The trade balance consequently showed a $78 billion surplus. This was more than the $76.2 billion estimate.
The total value of products imported and exported in 2022 reached a new high of CNY 42.07 trillion, according to the customs bureau.
Source: RTT News
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