China’s total imports and exports fell in 2023, according to official trade data released on Friday, amid a weakening global trade environment.
The country’s trade surplus was $823.2bn for the year compared to $877.6bn in 2022. Exports for all of 2023 were $3.4tn, down 4.6 per cent from 2022. Imports dropped 5.5 per cent to $2.6tn.
Exports to the European Union and United States fell 10.2 per cent and 13.1 per cent, respectively. Exports to Russia rose 46.9 per cent.
The country’s December exports added 2.3 per cent year on year, ahead of the 1.7 per cent increase forecast in a Reuters poll of analysts, while imports rose 0.2 per cent, slightly behind expectations.