$ 3.8 trillion of China’s trade in 2012

Gold price continue loses after gloomy chines data

China’s foreign trade amounted to $ 3.8 trillion in 2012 and China’s trade surplus big leap by 48.1% in 2012, but the volume of foreign trade rose at a slower pace than previous years, could stimulate the government to maintain measures to support growth, analysts said.

Exports rose 7.9% in 2012 to about 2050 billion dollars, while imports rose by value fell partly due to weak prices of raw materials, increased by 4.3 percent to around 1820 billion dollars also explained the Customs Department.

The growth of Chinese exports recovered abruptly to the highest level in seven months at the end of a strong year in the economy has suffered from the slowdown of the seven quarters but the rise may not be indicative of the continuing recovery recovery as global demand is still down. Contradict commercial prospects bleak with data showing strong domestic demand for loans is fueled hopes that the second largest economy in the world has achieved a growth rate of eight percent in the fourth quarter of 2012 based on strong domestic demand, while assumed leadership of a new political reins in the country which is happening every ten years.

Trade surplus

In the end, trade surplus rose for the year 2012 to 231.1 billion dollars. Especially increased $ 31.6 billion in December alone. Exports last month, an increase of 14.1% according to the annual pace of last month to reach a record high of 199.2 billion dollars.

While imports increased by only 6% above the level of the historic in one month, to 167.7 billion dollars. This improvement may not be with only transient is caused by increased shipments of Chinese exporters at the end of the year, as analysts warned.

Significant progress

For all of 2012, the volume of China’s foreign trade increased by 6.2% or less than the target set by the government at the beginning of 2012 and of 10%. The Customs spokesman Zheng Yusheng at a press conference: Although the global economy witnessed a clear slowdown.

And weak international demand and the large inclination of the slowdown in the Chinese economy has seen in China’s foreign trade growth stable and continued to make progress. He explained that this progress includes the best quality of products and high profits and optimistic view of the structure of exports.

Production costs

In addition to the economic crisis in the developed economies, Zhang attributed the difficulties Chinese exporters to increase production costs in China, which reduced worker competitiveness of Chinese products for export. In 2011, Chinese exports also saw growth of 20.3% and imports by 24.9%. The European Union remained the first trade partner of China in 2012, but the United States last year became the first

Port for Chinese exports surpassing the European Union, as Zheng also announced.

Finally, trade with Japan fell by 3.9% over the year, also said Chinese customs, while suffering Sino-Japanese relations from the consequences of a border dispute over the sovereignty of islands in the East China Sea, called Diaoyu in Chinese and Senkaku in Japanese.

Difficult year

And Zheng said, “We expect that the growth of foreign trade in 2013 was slightly better than it was in 2012.” And some analysts expect from their destination a difficult year 2013. He said Alistair Thornton Warren Xiafang experts economists Foundation’s “IHS Global Insight” and based in Beijing, in an analytical note that “China’s exports in the sector will face new difficulties this year that will be more severe than 2012.”

And slowed increase in the gross domestic product in China, the world’s second economy, for seven consecutive quarters to fall to 7.4% according to the annual pace in the third quarter, but growth will jump in the fourth quarter, according to observers. , Said Lu Ting, an analyst at Bank of America – Merrill Lynch said the government’s policy encouraging the growth will remain to support the tendency to improvement.

Proactive policy

Saw San jonoy economist in Beijing for Bank “HSBC” that there would be a great program for the advancement, but China will maintain a monetary policy capacity and relatively increase expenditure in the budget for infrastructure and social housing, to improve the daily life of the population.

To support the activity, China’s central bank decided to reduce the reserve bonds in banks three times since December 2011, while the reduction of key interest rates in June and July. The central bank said that exchange reserves in China, the largest in the world, reached at the end of December a record high of 3310 billion dollars, a slight increase compared with 3290 billion at the end of September.