Beijing Trying To Manage Slowdown In Economy After Decades Of Growth

China’s surplus with the U.S. grew 17 percent from a year ago to hit $323.32 billion in 2018.It was the highest on record dating back to 2006 according to Reuters.

Exports to the U.S. rose 11.3 percent  in 2018 while imports from the U.S. to China rose a meager 0.7 percent over the same period.China’s overall trade surplus for 2018 was $351.76 billion.Exports in the whole of 2018 rose 9.9 percent from 2017 while imports grew 15.8 percent over the same period.

While the surplus with the U.S. may have risen last year’s overall Chinese trade surplus was the lowest since 2013 even though export growth was the highest since 2011.China’s overall December exports unexpectedly fell 4.4 percent from a year earlier the biggest monthly drop in two years the customs data showed.

Imports also unexpectedly contracted in December falling 7.6 percent marking the biggest decline since July 2016.That left the country with a trade surplus of $57.06 billion for the month compared with analysts’ expectations for a surplus of $51.53 billion up from $44.71 billion in November.

Exports fell due to softening global growth and as the drag from U.S. tariffs intensified while imports also fell due to cooling domestic demand.China’s December trade surplus with the U.S. fell to $29.87 billion from $35.54 billion in November.Beijing is already trying to manage a slowdown in its economy after decades of breakneck growth.

 

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