January 13, 2025 05:31 GMT
MNI BRIEF: China 2024 Exports Grow 5.9% Y/Y
China's exports grew 10.7% y/y to USD335.6 billion in December, exceeding the 7.4% y/y consensus and November's 6.7% y/y increase, according to data released by China Customs on Monday.
Imports, which amounted to USD230.8 billion, registered a 1.0% y/y growth, up from the consensus of a 1.4% y/y decrease and last month's 3.9% y/y drop. Imports increased 1.1% y/y for the year of 2024, while exports increased 5.9%. China’s trade surplus in 2024 hit USD992.2 billion, with December contributing USD104.84 billion.
Exports and imports with ASEAN, the EU and the U.S. drove the total trade volume by 17.2%, 11.3% and 12.2% respectively.
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