China Dec imports from North Korea down 81.6 pct y/y - China customs

China Dec imports from North Korea down 81.6 pct y/y - China customs

China Dec imports from North Korea down 81.6 pct y/y - China customs

In December, exports rose 10.9 per cent from a year earlier, beating analysts' forecast of a 9.1 per cent increase, but cooling from a robust 12.3 per cent gain in November, the General Administration of Customs said on Friday.

For 2017, China's imports from North Korea dropped 33 percent to $1.72 billion, the lowest value in at least four years.

China may face a trade deficit within the next five to 10 years as the next phase of the economy's development will require the country to ramp up imports, according to one of China's top economists.

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China's exports and imports growth slowed in December after unexpectedly surging in the previous month, adding to signs of ebbing economic growth as the government extends a crackdown on financial risks and factory pollution.

Economists had expected China's trade surplus to have narrowed to $37 billion in December from November's $40.21 billion.

The administration of U.S. President Donald Trump welcomed signs that China, North Korea's main economic partner, was "sharply reducing" trade with its neighbor.

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A Bloomberg poll of experts projected IndusInd Bank to be around Rs 943 crore in Q3FY18. Compared with the second quarter of FY18, gross NPAs rose by eight basis points.

"The record high trade surplus is likely to lead to more trade disputes between China and the US", said Tommy Xie, an economist at Singaporean bank OCBC.

Gao Feng, a spokesman for China's Ministry of Commerce, said on Thursday that both countries should manage their differences through dialogue to prevent them from escalating into conflict.

In contrast to 2017, Julian Evans-Pritchard, an economist at Capital Economics, expects exports to fare better than imports this year as outbound shipments continue to be supported by strong foreign demand even as slowing investment and weaker industrial activity weighs on the pace of inbound shipments.

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Commodities imports were mixed, with copper purchases down 8.2 per cent year-on-year by volume in December while coal and natural gas imports were up.

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