China’s exports in December blew past expectations, rising over 14 percent year on year, compared with forecasts for an increase of just 4 percent. And guess what was behind these blowout trade numbers? A surprising surge in demand from the country’s top trading partner – the United States.
In addition to resilient demand from emerging markets, shipments to the U.S. rebounded 10.3 percent last month – following a decline of 2.6 percent in November – driven by a rise in consumer goods exports to the world’s largest economy. Exports to Europe also edged up 2.3 percent in December, after six months of declines.