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  • tabbysansan tabbysansan Jan 9, 2013 10:33 PM Flag

    China Exports Explode

    Things looking a little brighter? Maybe they are buying programming equipment again.

    Jan. 9, 2013, 9:28 p.m. EST
    China’s exports soar, as trade surplus balloons
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    By V. Phani Kumar, MarketWatch

    HONG KONG (MarketWatch) — China’s exports grew sharply in December, blowing away analysts’ estimates and causing a surge in the trade surplus, data released Thursday showed.

    China’s surplus soared to $31.6 billion in December, trouncing estimates and widening sharply from a $19.6 billion surplus in November.

    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 $19.6 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 $231.1 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 HK:HSI +0.97% rising 1%.

    Varahabhotla Phani Kumar is a reporter in MarketWatch's Hong Kong bureau. Follow him on Twitter @MktwKumar.

 
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