China's December Exports Increase by 2.3%... Trade Surplus of $75.3 Billion

Import Value Increased by 0.2% to 228.2 Billion Dollars

China's export value last month increased by 2.3% year-on-year, improving the trade balance.

On the 12th, the General Administration of Customs of China announced that China's export value in December last year rose by 2.3% to $303.6 billion (approximately 399.1125 trillion KRW). The increase exceeded both the previous month's figure (0.5%) and the forecast (1.7%).

[Image source=AP Yonhap News]

Imports increased by 0.2% to $228.2 billion, recovering from last month's (-0.6%) decline. However, the increase was below market expectations (0.3%).

With exports rising more than expected, the trade surplus grew from $68.39 billion in November to $75.34 billion in December. In yuan terms, it increased from 490.8 billion yuan (approximately 89.9931 trillion KRW) in November to 540.9 billion yuan. Wang Lingjun, Deputy Director of the General Administration of Customs, explained, "Exports of electric vehicles, lithium-ion batteries, and solar cells reached record highs."

Last year, China's total exports were $3.38 trillion, down 4.6% year-on-year, and imports were $2.56 trillion, down 5.5%. Deputy Director Wang said, "This year, the external environment is becoming more complex, severe, and uncertain. To promote stable growth in foreign trade, several challenges must be overcome, requiring greater efforts."

This content was produced with the assistance of AI translation services.