FAST FIVE: What Trade War? Chinese Trade Surplus Hits All Time High On Soaring Exports Of Pandemic Goods
Month-over-month export growth was +0.3% non-annualized in December vs.
Month-over-month imports growth also rose by +1.5% non-annualized in December vs.
In contrast, exports to Japan and Korea accelerated to +8.2% yoy and 16.4% yoy, respectively.
For major commodity imports based on released information (a full set of commodity trade data is not released yet), in value terms, the decline in crude oil imports widened to -43.2% yoy from -34.5% yoy in November.
In volume terms, crude oil imports fell sharply by 15.4% yoy, vs.