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China's exports shrank the most in two years threatening the world economy
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| Freight |
fell as much as China 's exports in two years in December and imports shrank, indicating further weakness in the second largest economy in the world in 2019 and the deterioration of global demand.
China's biggest trade surplus with the United States in 2018, which could force President Donald Trump to put more pressure on Beijing in its deepening trade dispute, showed data on Monday that bolster policymakers' fears.
The pessimistic trade data for December suggests that China's economy may have lost momentum late in the year more than previously thought, despite a series of growth support measures in recent months, such as increased spending on infrastructure and tax cuts.
Exports in December fell 4.4 percent from a year earlier, with demand from most of China's major markets weak. Imports also fell sharply, dropping 7.6 percent in the biggest drop since July 2016.
China's politically sensitive trade surplus with the United States rose 17.2 percent to $ 323.32 billion last year, the highest since 2006, according to Reuters calculations from customs data.
This compares to about $ 275.81 billion in 2017.
China's huge trade surplus with the United States is a sticking point with Washington, which Beijing is demanding steps to reduce.
China's total exports worldwide rose 9.9 percent in 2018, the strongest trade performance in seven years, while imports rose 15.8 percent last year.
China's exports to the United States fell 3.5 percent in December, while imports from the United States fell 35.8 percent in the same month.
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