Forexpros – China’s trade surplus widened unexpectedly in December, as import growth slowed significantly, official data showed on Tuesday.
In a report, the Customs General Administration of China said the nation’s trade surplus widened to USD16.5 billion in December from USD14.5 in the previous month.
Economists had expected the trade surplus to narrow to USD8.5 billion in December.
The report said that exports rose by 13.4% in November from a year earlier, slowing from 13.8% in October. Imports climbed 11.8%, the lowest since November 2009 and slowing sharply from 22.1% in the previous month.
Analysts had expected Chinese exports to rise by 13.5% and imports to increase 18.0%.
For the full year, the trade surplus totaled USD155.14 billion, the weakest in three years, representing a drop of 14.5% from 2010 levels.
Following the release of the data, Asian stock markets were broadly higher. Hong Kong’s Hang Seng Index rose 0.85%, while Japan’s Nikkei 225 Index added 0.4%.
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