China’s Trade Surplus Grows

Chinese customs officials report that the country’s trade surplus totaled $16.52 billion in December, more than double the expected $7.8 billion. Exports rose by 13.4% year-over-year and imports also rose by 11.8%. The rise in imports was expected to be around 18%, following a jump of more than 22% in November.

The Chinese New Year holiday falls at the end of January this year, which means that some export shipments may have been sent early. If that is the case, the increase could be just temporary and does not indicate that the country’s economy is recovering from its recent downturn.

For the full year, China’s trade surplus fell by -14.5% from 2010, to $155.14 billion. The record surplus of $298.1 billion came in 2008.