China exports rise in December 2009

China’s exports went up in December 2009 for the first time in 14 months the Bloomberg news reports.

Imports, also rose 55.9% as the country leads a global economic recovery.

Citing information from the China customs bureau website, it said shipments climbed 17.7 percent from a year earlier after a 1.2% decline in November. The median forecast in a Bloomberg News survey of 21 economists was for a 5% gain. None forecast such a large increase. The trade surplus was $18.43 billion.

Imports increased by the most since 2003, after accounting for seasonal distortions in the first two months of each year. The full-year trade surplus was $196.06 billion, sliding for the first time since 2003 and falling short of 2008’s record $295.5 billion.

China has overtaken Germany as the world’s lead exporting country, according to figures released in Frankfurt, China exported $1,050 billion worth of merchandise in the 11 months of 2009 from January to November, compared with $1,030 billion for Germany.

By Emmanuel K. Dogbevi

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