China's exports slump 9.9% in December as global demand continues to drop

Export growth was robust for most of 2022, providing some support for the world's second-largest economy as it was hit by a housing market slump and weak consumer demand

China’s exports fell further in December as global demand continued to drop off, adding to pressure on the economy as it charts a hasty, uncertain path out of Covid Zero.
 

Exports in US dollar terms fell 9.9% in December from a year earlier, the General Administration of Customs said Friday. That beat economists’ estimate for a 11.1% drop, and compared with a decrease of 8.7% in the previous month. For the full year, exports rose 7% to a record $3.6 trillion.

Imports shrank 7.5%, better than the median estimate of a 10% drop. That left a wider trade surplus of