China’s exports and imports are expected to slowdown in December as a key economics drivers remain weaken, heavily weighed by rising omicron concerns on the demand outlook.
Exports growth in December 2021 were expected at 20% compared to the same period in 2020, which is a significantly high number, but still lower than a 22% growth in November 2021, according to Reuters poll.
Meanwhile, imports were expected to slowdown from 31.7% in November to 26.3% in December.
China is the first country to recover from the coronavirus crisis and its economic data has been outperforming by far in 2021 for the world’s second-largest economy. However, economists expected the battle with rising Covid cases while trying to achieve zero-Covid policy will slow the economy down. In the meantime, shipments are expected to slow eventually as demand for goods overseas that once surging eases and higher costs could pressure the Chinese exporters.
The economic data for exports and imports is scheduled to be released on January 14.