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December Sees Upward Rise in China's Exports
December Sees Upward Rise in China's Exports

During the month of December, exports from across China managed to turn upwards, jumping back to growth after 13 consecutive months of falls, providing the very latest sign that the global trade environment has started to improve.

Last month, China's exports and imports both surged, and the change has come a year after lenders from across the country started a major domestic investment-led stimulus program to try and overcome the global decline in demand for China's exports, which is a key driver of the country's economy.

In December's trade data, the shift in focus was more than evident. While exports managed to grow by 18% as compared to December of 2008, imports rose even more, hiking by a whopping 56%, reflecting the nation's growing demand for raw materials.

Exports of crude oil managed to set a monthly record, and those of iron ore set the second-highest record.

"Growth in exports is expected to be strong in the coming months due to steady improvement in external demand combined with low base effects. Continued recovery in China's industrial sector should support increased demand for energy and raw material imports", said Jing Ulrich, Chairman of China equities and commodities at J. P. Morgan.