City skyline in China

China Trade Balance December 2018

China: Exports contract in December as sanctions bite

Exports contracted 4.4% from the same day in the previous year in December, contrasting the 3.9% expansion in November. The print represented the worst performance in two years and was significantly below market expectations of a 3.0% increase. December’s export data signals that the front-loading of shipments that shored up export growth in recent months has finally ended. Therefore, consequences of the U.S. trade tariffs and weaker global growth should now become more visible.

In December, imports fell 7.6% over the same month in 2017, which contrasted November’s 2.9% increase. The reading undershot the 5.0% expansion that market analysts had forecast and was the sharpest contraction in over two years. Weak domestic demand and a sizeable decline in oil prices were behind December’s result.

The trade surplus rose from USD 53.8 billion in December 2017 to USD 57.1 billion in December 2018 (November 2018: USD 41.9 billion). The 12-month moving sum of the trade surplus increased from USD 347 billion in November to USD 352 billion in December.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest