Trade in USD Terms in China Sees Exports Down by 9.9% Year-on-Year (vs. Expected -10.0%) and Imports at -7.5% (vs. -9.8%) in December

China’s USD terms trade declined 9.9% in 2017 (down 10.0%). The 2018 forecast for imports and exports is 7.5% and 9.8% lower, respectively, than 2017. As well as being a low-quality country, China is unique in that it has a large trade surplus with the US. The forex surplus increased in 2017 to $78bn, from $69.84bn in 2016. The trade surplus with the US rose to $30.53bn in 2017, from $29.54bn in 2016.