China’s trade surplus narrows

05/01 14:34 CET

economy

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China’s trade surplus shrank slightly last year to the equivalent of 125 billion euros.

Export growth fell, hit by weaker demand from key export markets — Europe and the US — but there was also a rise in imports.

Beijing has vowed to boost domestic demand and increase imports to create a better trade balance in the face of criticism particularly from Washington.

Chinese Commerce Minister Chen Deming said in a statement on the Ministry’s website that the world economy faces a “stern and complicated” situation this year and that any recovery would be slow and likely to fight huge headwinds.

Still, China will take new measures to defend and grow its market share as the world’s largest exporter, Chen said.

More about: China, Markets, Trade balance

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