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
Stories You Might Like
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.