The volume of exports in China in December dropped sharply - by 9.9%, which was the worst dynamics for almost 3 years, writes profinance.ru, citing Reuters. Unstable demand in the United States and Europe contributed to it. In November, Chinese exports also fell significantly - by 8.7%. Against this backdrop, economists don't expect the country's GDP to grow significantly this year.
According to Reuters, exports from China to the United States in December fell by 19.5%, while in Europe - by 17.5%. However, according to experts, after China has abandoned its zero-tolerance policy for the coronavirus, its domestic demand will grow, albeit at a slow pace. This factor is key to its economic recovery this year. Nevertheless, the volume of imports in 2022 was very weak, growing by 1.1%, which is significantly lower than the results of 2021 (30%).
The Chinese authorities have announced their intention to strengthen measures to support the economy in order to stimulate its growth and smooth out the negative effects of the easing of the coronavirus policy.