Exports from China jumped 7.6 percent year-on-year to USD 237.65 billion in December 2019, the first increase in five months and well above market expectations of a 3.2 percent rise. This marked the steepest export growth since March, amid strengthening global demand and a progress in trade talks with the US, with a Phase 1 deal set to be signed on Wednesday. There were gains in exports of both refined products (15.8 percent) and coal (117.7 percent), while falls were seen in sales of unwrought aluminium and products (-9.3 percent), coke & semi-coke (-31.4 percent), steel products (-15.7 percent), rare earths (-32.5 percent), and rice (-22.8 percent). For full year of 2019, exports rose 0.5 percent, compared to 10 percent in 2018, with sales to the US falling 12.5 percent. Exports in China averaged 652.96 USD HML from 1981 until 2019, reaching an all time high of 2315.23 USD HML in December of 2017 and a record low of 12.50 USD HML in February of 1983. source: General Administration of Customs
Exports in China is expected to be 2253.00 USD HML by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Exports in China to stand at 2200.00 in 12 months time. In the long-term, the China Exports is projected to trend around 2210.00 USD HML in 2020, according to our econometric models.
Export growth has been a major component supporting China's rapid economic expansion. China major exports are: mechanical and electrical products, high tech products, clothing, textiles, footwear, furniture, plastic products and ceramic, motors and generators and integrated circuits. China’s main export partners are the United States, Hong Kong, the European Union of which Germany, the UK and the Netherlands, ASEAN countries of which Vietnam, Japan, South Korea and India.