“China sets record trade surplus ahead of Trump’s inauguration China’s exports rose 10.7% and imports 1.1% in December 2024, beating analysts’ expectations. The trade surplus reached a record level of almost 1 trillion US dollars on the eve of the change of power in the US.”, — write on: unn.ua
Transfers UNN with reference to MilanoFinanza.
China’s exports and imports beat expectations in December 2024, and the major Asian economy’s trade surplus widened more than expected.
China’s exports rose 10.7% year-on-year in December 2024, beating forecasts of 7.3% and accelerating from +6.7% in November.
Exports amounted to about 3.58 trillion US dollars (5.9% higher than in 2023). Imports rose just 1.1%, or to $2.59 trillion. This resulted in the trade surplus reaching a record high of just under one trillion US dollars.
Imports rose 1.1%, according to China’s customs service, beating forecasts for a 1.5% drop and marking the first rise in three months.
A prerequisite for this could be the change of government in the US next week, before which Chinese companies wanted to get rid of their goods. This is due to the fact that the newly elected US President Donald Trump has announced further tariffs on Chinese products, which may reduce their sales opportunities in the US and further worsen trade relations between the world’s two largest economies.
We will remind
Trump and China spoke about the prospects of American-Chinese cooperation.
Chinese automakers hit record sales figures in 2024, but expect a challenging 2025. Market growth will slow to 2% due to trade tensions and stiff competition.
Xi Jinping will send a representative to Trump’s inauguration instead of attending in person. The Chinese envoy will hold talks with the team of the newly elected US president to reduce tensions between the countries.
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