China Dec. trade surplus jumps as exports up 14.1%
HONG KONG (MarketWatch) — China’s trade surplus soared to .6 billion in December, trouncing estimates and widening sharply from a .6 billion surplus in November, aided by a strong growth in the country’s exports. Official data released Thursday showed exports expanded 14.1% during the month from the year-earlier period, while imports grew 6%. A survey of economists by Dow Jones Newswires estimated a trade surplus of .6 billion, exports growth of 4.6% and a 3.3% increase in imports. The steep increase in December’s positive trade balance boosted China’s full-year trade surplus for 2012 to 1.1 billion, 48.1% higher than the level recorded in 2011, according to a Xinhua news report. Chinese stocks jumped following the data release, with the Hang Seng Index rising 1%.
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