Beijing: China’s trade surplus surged 48.1% to $231.1 billion in 2012 from the previous year, though total trade volume grew at a much slower pace, official data showed on Thursday.
Exports from the world’s second-largest economy rose 7.9% to $2.05 trillion, while imports increased 4.3% to $1.82 trillion, the national customs bureau said.
China’s trade volume, or the total of exports and imports, grew 6.2% in 2012, well below the government target of about 10%.
Customs spokesman Zheng Yuesheng said 2012’s performance came “despite a sharply slowing world economic recovery, weak international market demand and rather big downside pressure on the domestic economy”.
Zheng told reporters: “China’s foreign trade continued to grow steadily and made further progress in improving quality, increasing profits and optimizing structure.”