China Trade Surplus Widens in December


China trade surplus increased to USD60.09 billion in December of 2015 from USD49.61 billion reported a year earlier and beating market consensus, as exports and imports fell much less than expected.

In December, exports declined by 1.4 percent year-on-year to USD224.19 billion, the sixth straight month of fall and the smallest drop since June. Imports decreased by 7.6 percent year-on-year to USD164.10 billion, following a 8.7 percent decline in November. It is the 13th straight month of contraction, as a result of declining commodity prices and weak demand. In the previous month, the country registered a USD54.10 billion trade surplus.

For full year of of 2015, the country registered a USD594,5 billion trade surplus, larger than a USD382.5 billion surplus a year earlier.

From January to December 2015, exports dropped by 2.8 percent, driven by rice (-29.4 percent), coal & ignite (-28.3 percent); coke & semi coke (-10.0 percent); refined oil (-25.9 percent); clothing accessories (-6.4 percent); footwear (-4.8 percent); precious metals (-61.6 percent); steel (-11.3 percent); automatic data processing equipments (-16.2 percent) and LCD panel (-2.6 percent). In contrast, outbond shipments increased for: crude (+215.0 percent); mineral fertilizer (+22.1 percent); ceramic products (+19.0 percent); unwrought aliminium and aluminium (+5.8 percent); handheld wireless phone & its parts (+8.5 percent); IC (+13.9 percent); shipping (+13.3 percent); furniture & parts (+1.6 percent) and lamps, lighting fixtures and parts (+15.0 percent). Sales declined to: Hong Kong (-8.7 percent), Japan (-9.2 percent), the EU countries (-4.0 percent), Taiwan (-3.0 percent) and Russia (-28.6 percent). In contrast, outbond shipments rose to: India (+7.4  percent), the US (+3.4 percent), South Korea (+1.0 percent), the ASEAN countries (+2.1 percent), Australia (+3.0 percent) and New Zealand (+3.9 percent).

From January to December 2015, imports fell by 14.1 percent, as purchases from most of the country's trading partners declined except Hong Kong, Vietnam and Canada. Those from the US decreased by 6.5 percent, India (-18.2 percent), Japan (-12.2 percent), South Korea (-8.2 percent), Taiwan (-5.5 percent), the ASEAN countries (-6.6 percent), the EU countries (-14.5 percent), Russia (-20.0 percent), South Africa (-32.3 percent), Australia (-24.6 percent) and New Zealand (-30.7 percent). In contrast, imports rose from Hong Kong (+1.2 percent), Vietnam  (+49.1 percent) and Canada (+4.2 percent).

General Administration of Customs l Rida Husna | rida@tradingeconomics.com
1/13/2016 9:01:32 AM