China's Dec exports and imports slump, but slightly better than forecasts

China posted a trade surplus of $78 billion in December, compared with a forecast $76.2 billion surplus in the poll and a $69.84 billion surplus in November.

China's exports tumbled 9.9% in December from a year earlier, while imports shrank 7.5%, customs data showed on Friday. Analysts in a Reuters poll had expected exports to fall 10.0 after a 8.7% drop in November due to weakening global demand.

Imports were forecast to have contracted by 9.8% compared with a 10.6% fall in November, due to sluggish domestic consumption as many people stayed indoors amid surging COVID-19 infections after the government largely removed anti-virus measures. China posted a trade surplus of $78 billion in December, compared with a forecast $76.2 billion surplus in the poll and a $69.84 billion surplus in November.

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