China's 2012 trade surplus surges 48% to $284b
BEIJING (AFP) - China's trade surplus surged 48.1 per cent to US$231.1 billion (S$284.4 billion) last year, though total trade volume grew at a much slower pace in the face of economic weakness at home and abroad.
Exports from the world's second-largest economy rose 7.9 per cent to US$2.05 trillion from the previous year, while imports increased 4.3 per cent to US$1.82 trillion, the national customs bureau said on Thursday.
China's trade volume, or the total of exports and imports, grew 6.2 per cent last year, well below the government target of about 10 per cent.
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".