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China December trade slumps as trade war, economic slowdown bite

China's exports and imports dropped in December in a development that shows the impact of the current trade war and an economic slowdown.

Bloomberg
Photo: Bloomberg

Chinese trade slumped in December, sending regional stocks and the Australian dollar lower, as an unexpected fall in both exports and imports underlined the impact of the trade war and economic slowdown.

Exports in dollar terms fell 4.4 percent from a year earlier, while imports dropped 7.6 percent. Both were the worst result since 2016, and left a trade surplus of USD 57.1 billion.

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