China's exports up 14.1% in Dec
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China's exports up 14.1% in Dec

Last Updated: Thursday, January 10, 2013, 19:03
 
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China's exports up 14.1% in Dec
Beijing: China posted better-than-expected exports last month cashing on the festive season.

Exports, a key driver of expansion, rose 14.1 in December from a year earlier beating the four percent figure forecast by analysts.

Imports also rose, climbing six percent and indicating stronger domestic demand.

"The export data especially is a very good news as it shows that external demand for Chinese products is picking up," Dariusz Kowalczyk, a senior economist at Credit Agricole-CIB in Hong Kong, told the BBC.

"A slowdown in global demand had been one of the biggest concerns for China, and this does help alleviate some of those fears," he said.

Due to downturn in exports, China's GDP has registered 7.4 percent in July-September period missing, the official target of 7.5 percent.

China's exports always performed well during the December as the country supplies all most festive materials for Christmas and New Year to the entire world.

Meanwhile China's foreign trade growth missed the government's 10-percent annual target set for 2012 by rising only 6.2 percent from 2011, official figures released Thursday said.

The country's exports and imports volume totalled USD 3.87 trillion last year, and growth slowed sharply from the 22.5-percent rise registered in 2011, Zheng Yuesheng, General Administration of Customs spokesman said.

Exports rose 7.9 percent in 2012 from the previous year while imports increased 4.3 percent year on year, Zheng told the media.

Foreign trade surplus widened to USD 231.1 billion last year, 48.1 percent more than the level recorded in 2011.

PTI



First Published: Thursday, January 10, 2013, 19:03


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