Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  January 10, 2013 09:18:51

China - export in December grew by 14.1% - almost three-fold compared with forecasts


Activity of foreign trade of China in December last year significantly increased. Exports grew by 14.1% yoy, which far exceeded market expectations in working with an estimated average growth rate of 5%.
Imports in December grew by 6% compared to November compared to the stagnation and expectations set for about half the growth.
The total foreign trade balance showed a surplus in December of 31.6 mld.USD, which is almost twice the level of December 2011. The market expected surplus at 20 mld.USD. Surplus in November reached the level of 19.6 mld.USD.

For the full year 2012 China's exports grew by 7.9% in the growth of imports by 4.2%. Government's target calculated with 10% of the combined growth. In 2011, exports grew by 20.3% and imports by 24.9%. Even in the worst year so far in the last decade, in 2009, exports grew by 16% and imports by 11.2%.The overall trade surplus last year grew for the first time since 2008 to 231.1 mld.USD.

Exports to the EU in December grew by 2.3%, which was the first increase since last May. Growth was driven primarily by demand in the UK and the Netherlands. Growth was observed also export to USA, Canada, South Korea and India.
For the full year 2012 de EU exports decreased by 6.2%, the EU came to post the largest trading partner of China. In this position Union replaced the United States. Exports to these two areas represents a third of the total balance of trade.

According to the Chinese Minister of Commerce by this balance should be slightly better than last year. The government aims to increase the combined activities of foreign trade by 8%.

Chinese automobile exports in 2012 grew by 20% to 990,000 vehicles.

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