Cargo ships docked at a container terminal at Lianyungang port, Jiangsu province, eastern China, December 7, 2022.
CFOTO | Future Publishing | beautiful pictures
BEIJING — China’s exports and imports fell less than expected in December, customs authorities said on Friday.
The milder drop means that trade will still grow through 2022.
China’s exports fell 9.9% in December from a year ago in US dollar terms, slightly better than the 10% drop forecast by a Reuters poll.
China’s imports fell 7.5% year-on-year in U.S. dollar terms, also better than the 9.8% decline Reuters predicted.
Strong exports have boosted China’s economy over the past two years. But economists expect demand from the US and Europe to slow.
Now, China’s exports have started to decline year-on-year in October — for the first time since May 2020according to Wind Information.
For the full year of 2022, China’s exports grew by 7.7% and imports by 1.1%, the customs authority said.
According to official figures, cross-border e-commerce between China and other countries grew 9.8% in 2022 from a year ago to 2.11 trillion yuan ($301.42 billion). ). Such direct-to-consumer exports rose 11.7% year-on-year.
However, that marks a slowdown from 2021, when China’s cross-border e-commerce grew 15% to 1.98 trillion yuan ($311.5 billion) and exports increased 24, 5%.
of China Imports from EU and US decreased in 2022, while those from ASEAN grow slightly.
