China trade suffers from COVID hangover, weaker external demand

Import, export declines partly offset by record trade growth with Russia

China's trade with much of the world shrank further in December hit by outbreaks of COVID-19 in the country and weaker demand for its products abroad, with Russia a notable exception. © Reuters

CK TAN, Nikkei staff writer

January 13, 2023 13:26 JST

SHANGHAI -- China's trade picture weakened further in December, as the world's second-biggest economy struggled to move past the impact of strict COVID-19 controls and slumping demand from key export destinations.

Official figures published Friday show China's monthly exports fell 9.9% from a year earlier, after an 8.7% contraction in November, while imports slid by 7.5% from the same period in 2021.