China’s total imports and exports fell in 2023, according to official trade data released on Friday, amid a weak global trade environment.
The country’s trade surplus was $823.2 billion for the year compared to $877.6 billion in 2022. Exports for all of 2023 were $3.4 trillion, down 4.6 percent from 2022. Imports fell 5.5 percent to $2.6 trillion.
Exports to the European Union and the United States fell by 10.2 percent and 13.1 percent, respectively. Exports to Russia rose by 46.9 percent.
The country’s exports in December increased 2.3 percent year-on-year, exceeding expectations for a 1.7 percent increase in a Reuters poll of analysts, while imports rose 0.2 percent, slightly below expectations.