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- China Customs: 2022 exports rise by 10.5%, foreign trade still faces many challenges
China Customs: 2022 exports rise by 10.5%, foreign trade still faces many challenges
A spokesperson from China Customs said on Friday, “foreign trade still faces many challenges and difficulties this year.”
“Fundamentals of long-term improvement remain unchanged, and the economy is expected to rebound as a whole this year,” the spokesperson added.
The comments come after China Customs reported the 2022 trade balance data, showing that the country’s exports rose 10.5% in Yuan terms in 2022 compared to the previous year while imports grew 4.3% over the same period.
Meanwhile, China’s Jan-Dec Trade Balance expanded by +5.87 trillion Yuan. For the first time, China's trade volume in 2022 exceeded 40 trillion Yuan.
Market reaction
AUD/USD is unimpressed by the above data, keeping its range near daily lows of 0.6948, down 0.31% on the day.
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