It has undoubtedly been a difficult year for the world’s second largest economy. China’s exports fell due to weaker global demand – now there are signs of recovery.
In a sign of stabilization in China’s foreign trade, exports from the second largest economy rose in December. As the customs authority in Beijing announced, exports increased by 2.3 percent compared to December of the previous year. The increase was stronger than analysts expected on average. After six consecutive months of declines, China’s exports had already increased slightly again in November.
Imports also increased slightly by 0.2 percent in December, as the customs authorities also announced. Overall, however, 2023 was a difficult year for Chinese trade. Due, among other things, to weaker global demand, exports fell by 4.6 percent. China’s imports fell by 5.5 percent.
Source: Stern
