The economyChina's exports recover strongly last year
SDA
13.1.2025 - 05:32
Exports are an enormously important pillar of the Chinese economy. (archive picture)
Keystone
China's exports recovered significantly last year. Total exports amounted to around 3.58 trillion US dollars, 5.9% above the figure for 2023, according to the customs authority in Beijing.
Keystone-SDA
13.01.2025, 05:32
SDA
Imports only achieved growth of 1.1% or a value of around 2.59 trillion US dollars. This put the trade surplus at a record high of just under one trillion US dollars.
Exports shot up by 10.7 percent in December compared to the same month last year, more than analysts had expected. Imports only increased by one percent.
The background to this could be the change of government in the USA next week, before which Chinese companies wanted to get rid of their goods. This is because US President-elect Donald Trump has announced further tariffs on Chinese products, which would reduce their sales opportunities in the United States and further worsen trade relations between the world's two largest economies.
The surcharges on Chinese products abroad would severely affect foreign trade this year and would be a further damper for the country, which is still struggling with weak domestic consumption and the consequences of a years-long real estate crisis.