January 12, 2018 / 3:26 AM / 2 months ago

China Dec imports growth slows to 4.5 pct y/y, exports beat f'cast at +10.9 pct y/y

BEIJING, Jan 12 (Reuters) - China’s December imports missed market expectations, rising only 4.5 percent year-on-year, while exports beat forecasts with 10.9 percent growth, official data showed on Friday.

That left the country with a trade surplus of $54.69 billion for the month, according to a Reuters calculation based on official data.

Analysts polled by Reuters had expected December shipments from the world’s largest exporter to have risen 9.1 percent, slower than the 12.3 percent increase in the previous month.

Imports had been forecast to rise 13.0 percent, softening from an 17.7 percent gain seen in November, with the trade surplus tipped at $37.0 billion last month from November’s $40.21 billion.

Exports rose 7.9 percent for the year, while imports increased 15.9 percent in dollar terms, data from the General Administration of Customs showed.

After several lean years, China’s trade performance rebounded in 2017 thanks to strong demand at home and abroad.

While exports are contributing to China’s growth once again, its strong appetite for industrial commodities such as iron ore and coal has also boosted resources prices worldwide in a boon to the global economy. (Reporting by Beijing Monitoring Desk; Editing by Shri Navaratnam)

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