China Trade Surplus $38.98 Billion in Dec

(RTTNews) - China posted a trade surplus of $38.98 billion in December, the National Bureau of Statistics said on Tuesday - higher than analyst expectations that called for a surplus of $34 billion.

Imports were down 21.3 percent on year, the data showed, versus expectations of a 19.1 percent annual decline. Exports fell 2.8 percent on year, compared to forecasts that called for a 3.8 percent annual decline.

For the year, China saw a trade surplus of $295.46 billion in 2008 versus a surplus of $262.2 billion in 2007. Imports were up 18.5 percent on year following a 20.8 percent annual jump in the previous year. Exports added 17.2 percent on year after a 25.7 percent annual gain a year earlier.

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