China reported higher-than-expected exports growth in December. Shipment from China rose 2.3% YoY in U.S. dollar terms last month, which was higher than a 1.7% rise expected by a Reuters poll. However, it was not enough to offset months of decline prior to December due to slower demand.
Imports rose by 0.2% YoY in December, slightly lower than the 0.3% rise expected by economists in a Reuters poll.
According to an analyst from Moody’s, rapid growth in the EV market as well as demand from Russia have helped boost auto exports for China.
In 2023, exports fell 4.6% while imports dropped 5.5%.
Meanwhile, China’s consumer prices in December fell 0.3% YoY, compared to an estimate of 0.4% contraction.
