China’s Trade Surplus Down 9.1 Pct in 2016

Beijing, China’s foreign trade surplus dropped to 3.35 trillion yuan (about $486 billion) in 2016, down 9.1 percent from a year earlier, China’s General Administration of Customs data showed Friday, according to Xinhua news agency.

The country’s exports in yuan-denominated terms dropped 2 percent to 13.84 trillion yuan year on year in 2016, while imports rose 0.6 percent from the 2015 level to 10.49 trillion yuan.

The total export and import value decreased 0.9 percent year on year to 24.33 trillion yuan.

GAC spokesperson Huang Songping said China faced a “complicated and grim” condition for foreign trade last year with increasing uncertainties and instabilities, but thanks to government efforts, foreign trade has stabilized and started to picking up steam from the second half of 2016.

For the fourth quarter, China’s exports was up 0.3 percent from a year ago, while imports climbed 8.7 percent, compared with a 0.3 percent decrease in exports and a 2.3 percent rise in imports in the third quarter, according to Huang.

In 2015, the country’s total export and import values decreased 7 percent year on year to 24.59 trillion yuan.

Source: Qatar News Agency