December Delight: China’s Exports Rise 10.7%, Setting New Trade Records

China's exports rebounded strongly in December 2024 from a five month low, posting a yearly increase of 10.7%, much stronger than market forecast 7.3% and accelerating in relation to November's 6.7% increase. It is also the ninth month of consecutive export growth and the largest in three years, according to analysts, who cited manufacturers shipping in advance of feared tariff hikes by the incoming U.S. administration under President-elect Donald Trump. Notably, exports to the U.S. increased by 15.6%, while those to ASEAN countries increased by 18.9%. The export growth is not enough to make China's economic landscape bright, as there are still many challenges, such as a protracted property crisis and subdued domestic demand.

Source: Reuters