Exports and imports fall in December

China’s exports dropped by 2.8% in December to US$111.2 billion in December, while imports were down 21.3% to US$72.2 billion, the Wall Street Journal reported. The decreases are said to reflect China’s losses from both the global economic slowdown and declining consumer confidence at home, while lower machinery imports showed the impact of the current crisis on China’s manufacturing sector. Analysts expect China’s imports to stabilize in the second half of 2009 as Chinese companies run through inventories and global commodity prices rebound. The country’s December trade surplus stood at US$39 billion, down from the US$40.1 billion in November.