China trade surplus up in December by 10.6 percent

Nathan Andrada – Fourth Estate Cooperative Contributor

Beijing, China (4E) – China’s trade surplus rose in January, according to official data released Wednesday in Beijing, which showed stronger exports for the world’s second-largest economy after weak numbers in the preceding months, although analysts said there could be a distortion in the figures.

Shipments of goods abroad jumped 10.6 percent from the previous year, according to data from the General Administration of Customs. This growth rate may be distorted due to false invoices to disguise capital flows last year and the different timing of the weeklong Lunar New Year holiday.

The exports figure was sharply higher than economists’ median projection for a gain of 0.1 percent. Imports surged 10 percent, resulting to a trade surplus of $31.9bn, the largest for the month of January since 2009.

The median forecast of 11 economists surveyed by The Wall Street Journal called for just a 0.1 percent rise in exports, which had climbed 4.3 percent in December. Overall trade surplus dropped 17.4 percent year-on-year to $25.64bn in December.

China’s gross domestic product is predicted to slow to 7.5 percent for 2014, according to the median forecast of 14 economists polled by AFP in January.

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