China: Trade surplus narrows in 2010
January 14, 2011
In December, exports added 17.9% over the same month the year before to reach USD 154.1 billion. The figure nearly halved the 34.9% expansion observed in November and surprised market expectations on the downside, which had exports growing 23.3%. Meanwhile, imports grew 25.6% over December 2009 (November: +37.9% year-on-year) to reach USD 141.0 billion, fanned by buoyant domestic demand. As a result, the trade surplus fell from USD 22.9 billion in November to USD 13.1 billion in December. With the December reading, exports reached USD 1.6 trillions in the full-year 2010, which is 31.3% above the USD 1.2 trillion recorded in 2009. Total imports climbed 38.7% over the last year to reach USD 1.4 trillion. As a result, the trade surplus for the full-year 2010 fell to USD 183.1 billions, down from the USD 196.4 billions surplus recorded in 2009.