China’s December exports beat forecast as trade war eases

Chinese exports climbed 7.6% in December compared to a year earlier, as shown by customs data on Tuesday. The recovery in export demands was attributed to the preliminary trade deal agreed upon by China and United States, as further de-escalation of the longstanding tariff war is expected.

The recovery was the first since July 2019 when Chinese exports fell. It was also the fastest growth rate since March of last year.

In a poll, analysts forecasted an average 2.3% increase in exports by December, after the 1.3% fall in November.

Chinese imports climbed 16.3% in December compared to last year. In another poll, the growth was estimated to be at 9.6%.

China announced a $46.79 billion worth of trade surplus in December, compared to the $48 billion forecast in a poll, following November surplus of $37.93 billion.