Weak global demand and the corona situation in China again weighed heavily on Chinese foreign trade in December. China’s exports in US dollars fell by 9.9 percent compared to the same month last year, as reported by customs in Beijing on Friday. It was the third monthly decline in a row. Imports also fell by 7.5 percent. Overall, foreign trade recorded a minus of 8.9 percent in December.
China’s economy was heavily burdened in the past year by the strict zero-corona policy and the associated lockdowns. On December 7, Beijing made an abrupt about-face and abolished most of the corona measures after a good three years. But since then the corona virus has been spreading rapidly in the country. The high number of infections also had a negative impact on economic activity in December.