China's trade shrank in December but decline slowed

BEIJING -- China's trade shrank in December but the decline was smaller than November's in a positive sign for lacklustre economic growth.

See Full Article

Exports declined 1.4 per cent from a year earlier to $224.1 billion, an improvement over the previous month's 6.8 per cent contraction, customs data showed Wednesday. Imports were down 7.6 per cent at $164 billion, a smaller loss than November's 8.7 per cent fall.

China's trade data reflect weak global demand and a decline in domestic economic growth, but economists say retail spending and manufacturing might be improving.

Economic growth fell to a six-year low of 6.9 per cent in the quarter ending in September. Full year growth is expected to come in at or just below 7 per cent.

"China's improved trade data in December will probably act to reassure global investors unnerved by the recent volatility in the country's financial and foreign-exchange markets," said Tom Rafferty of the Economist Intelligence Unit in a report. "The data is in line with other indicators that suggest China's economy is stabilizing on the back of sustained stimulus measures."

In December, the country's global trade surplus widened by 21 per cent to $60.1 billion.

For the full year, exports were off 2.8 per cent at $2.3 trillion and imports were down 14.1 per cent at $1.7 trillion. The global trade surplus was $594 billion.

The country's trade surplus in December with the European Union, its biggest trading partner, swelled 36.8 per cent to $15.6 billion. The surplus with the United States contracted 6 per cent to $19.4 billion.



Advertisements

Latest Economic News

  • Why do you need a pet insurance, right here, right now

    Economic 24news
    Many Canadians would consider their pets as a part of their immediate, granular, family. Although some professionals think it’s not healthy, that’s the way life is in the twenty first century; There is a steep decline in the birth rate globally, with Japan leading the pack, and pets are filling in the void.
  • Asian shares mixed as U.S. government shutdown threat looms

    Economic CTV News
    HONG KONG - Asian stock markets were uneven and the dollar fell on Friday following Wall Street's retreat as the threat of a U.S. federal government shutdown loomed on the weekend. KEEPING SCORE: Japan's benchmark Nikkei 225 climbed 0.3 per cent to 23,836.84 and South Korea's Kospi was flat at 2,517.19. Source
  • Trees being burned on border of Jasper park to combat mountain pine beetle

    Economic CTV News
    EDMONTON - Foresters and provincial officials are burning tens of thousands of trees east of Jasper National Park to try to slow the spread of mountain pine beetles. "There's a lot more activity in the Edson-Hinton region, higher than past years, as we deal with some of this immigration that's occurring," said Mike Underschulz of Alberta Agriculture. Source
  • NEB sets out dispute resolution process for Trans Mountain pipeline

    Economic CBC News
    The National Energy Board says it has established a process to resolve future permitting issues between the builders of the Trans Mountain pipeline expansion project and provincial and municipal authorities. The NEB says that under the new process, it will take about three to five weeks to reach a decision on future disputes for permits the project is required to get under conditions imposed on the project. Source
  • New dispute resolution rules for Trans Mountain pipeline permits company to skirt local rules, says critic

    Economic CBC News
    An environmental lawyer says the National Energy Board's new process for resolving permitting issues gives Kinder Morgan the ability to circumvent local rules for its Trans Mountain pipeline expansion. The NEB said Thursday it has established a process to resolve future permitting issues between the builders of the Trans Mountain pipeline expansion project and provincial and municipal authorities. Source
  • NAFTA uncertainty could be pausing business investment in Canada: Morneau

    Economic CTV News
    TORONTO -- Bill Morneau says he understands the uncertainty surrounding NAFTA might be causing some companies to hesitate in making investment decisions. The federal finance minister made the comments today when asked about the Bank of Canada's warning this week that elevated uncertainty over the future of the North American Free Trade Agreement would drive down investment in Canada. Source
  • Apple to release software update to resolve iPhone slowdown: CEO Tim Cook

    Economic CBC News
    Apple Inc. will release a software update that will allow users to turn off a feature that slows down iPhones when batteries are low on charge, chief executive Tim Cook told ABC News. Apple will release a test version of its iOS software next month that shows users the health of their batteries and will let them turn off a phone-slowing feature meant to prevent sudden shutdowns in iPhones with older batteries, Cook said in an interview with ABC News on Wednesday. Source
  • Canadian cities reveal how they feel about losing bid for Amazon HQ2

    Economic CTV News
    TORONTO -- Amazon waded through 238 bids that included promises of hefty tax breaks and canoeing to work to narrow down a short list of some 20 candidates, including just one Canadian city -- Toronto. Source
  • Farmers to address Supreme Court in fight against abandoned wells

    Economic CTV News
    TABER, Alta. -- Thousands of farmers in Western Canada have been granted the right to appear before the Supreme Court of Canada to oppose a legal decision they say allows energy companies to walk away from unprofitable wells on their land. Source
  • Ontario man pleads guilty to animal cruelty in deaths of 1,500 pigs

    Economic CTV News
    SIMCOE, Ont. -- Ontario's animal welfare agency says a man has pleaded guilty to animal cruelty in the deaths of more than 1,500 pigs. The Ontario Society for the Prevention of Cruelty to Animals says Ben Stein, of Tavistock, Ont. Source