China December exports fall 1.4 percent, less than forecast
- 8 years ago
China's total trade fell in December but far less than expected, with exports outperforming many of its regional peers after the country let the yuan depreciate sharply, highlighting fears of a currency war among Asia's trade-reliant economies.
"The trade data support our view that, despite turmoil in Chinese financial markets, there has not been a major deterioration in its economy in recent months," Daniel Martin, senior Asia economist at Capital Economics, said in a note.
Exports from the world's largest trading nation fell 1.4 percent from a year earlier, data from the General Administration of Customs showed on Wednesday, much less than a Reuters poll forecast for an 8 percent drop and moderating from November's 6.8 percent decline.
They also sharply outperformed exports from neighboring countries such as Taiwan and South Korea, analysts noted, and came in the face of entrenched weakness in overseas demand.
"The trade data support our view that, despite turmoil in Chinese financial markets, there has not been a major deterioration in its economy in recent months," Daniel Martin, senior Asia economist at Capital Economics, said in a note.
Exports from the world's largest trading nation fell 1.4 percent from a year earlier, data from the General Administration of Customs showed on Wednesday, much less than a Reuters poll forecast for an 8 percent drop and moderating from November's 6.8 percent decline.
They also sharply outperformed exports from neighboring countries such as Taiwan and South Korea, analysts noted, and came in the face of entrenched weakness in overseas demand.