Chinese exports rose during the month of December, exceeding expectations, in light of the return of global demand after the turmoil caused by the Corona pandemic.
The annual export index in China for the month of December witnessed an increase of 18.1% after the previous reading by 21.1%, while expectations were for a rise of 15%. Imports rose by 6.5% from a previous of 4.5% and expectations were at 5%.
This data affected the trade balance of China, which witnessed an expansion in the trade surplus to 78.17 billion dollars, and expectations were for a surplus of 72.35 billion dollars. The previous reading was 75.4 billion dollars.
The rise in the yuan's price over the past year did not affect the demand for Chinese goods despite making shipments more expensive for buyers, and the strong domestic recovery also stimulated China's appetite for foreign products in December, with import growth accelerating from the previous month and exceeding expectations.
It is expected that Chinese exports will benefit from strong global demand at the beginning of this year, but some analysts believe that the rise in the yuan and the rising costs of raw materials could ease the momentum in the coming months.