In December, Chinese exports grew faster than expected, while import growth was lower than forecast. In particular, exports were up 20.9% year-on-year, which is + 20% higher than expected.
Imports increased by 19.5% compared to the + 26.3% forecast and a sharp decline of + 31.7% compared to November growth.
Exports increased by 22% by November.
The United States has been China’s main trading partner. In 2021, overall exports to the United States increased by 27.5% to $ 576.11 billion, while imports increased by 32.7% to $ 179.53 billion. Following the collapse between 2018 and 2019 between the trade wars launched by former US President Donald Trump, the surplus over the US was $ 396.58 billion for the second year in a row.
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