China Reports USD 49.6 B Trade Surplus in December

China reported a USD 49.6 billion trade surplus in December of 2014, up from a USD 25.6 billion surplus a year earlier. It is the third highest surplus on record, as exports beat market expectations and surged 9.7 percent year-on-year.

Year-on-year, exports rose 9.7 percent to USD 227.5 billion in December. Sales advanced to: South Korea (31 percent), the ASEAN countries (18.7 percent), Taiwan (13.8 percent), the United States (9.9 percent), Australia (9.9 percent) and the EU (4.9 percent). In contrast, shipments fell to Japan (-7.2 percent). 

Imports decreased by 2.4 percent to USD 177.9 billion. Purchases from the ASEAN countries fell 5.8 percent and those from Japan shrank 0.1 percent. Meanwhile, imports rose from: the EU countries (15.4 percent), Taiwan (13.6 percent), Australia (3 percent), the US (3.0 percent) and South Korea (1.3 percent).

In November 2014 China posted a record high trade surplus of a USD 54.5 billion.

For 2014, the country's total exports rose 6.1 percent, slowing from a 7.9 percent increase in 2013. Meanwhile, total imports increased by 0.4 percent, slowing sharply from a 7.3 percent rise a year before. That brought a USD 382.46 billion trade surplus in 2014, compared to a USD 259.75 billion  surplus in 2013. 

China Reports USD 49.6 B Trade Surplus in December

General Administration of Customs l Rida Husna l
1/13/2015 10:02:19 AM