进出口数据点评：全年外贸圆满收官

Trade Overview - In 2024, China's total import and export trade amounted to $616.229 billion, a year-on-year increase of 3.8%[1] - In December, exports reached $33.563 billion, growing by 10.7% year-on-year, while imports were $23.079 billion, with a growth of 1%[1] - The trade surplus in December was $10.484 billion, marking the first time the monthly surplus exceeded $10 billion[1] Export Performance - Exports to the United States in December totaled $48.83 billion, up 15.6% year-on-year, with a 7.6 percentage point increase from November[2] - Exports to the European Union were $46.5 billion, reflecting an 8.8% increase, also higher than the previous month[2] - Exports to ASEAN countries reached $59.7 billion, showing the highest growth rate of 18.9% among major destinations[2] Contribution Analysis - The contribution of exports to the U.S. to overall export growth increased from 1.2 percentage points in November to 2.2 percentage points in December[2] - The contribution from ASEAN exports was 3.1 percentage points, up 0.7 percentage points from November[2] - Exports to Japan negatively impacted growth by 0.2 percentage points in December[2] Sector Contributions - In December, the machinery and electronics sector contributed 7.1 percentage points to export growth, the highest among all sectors[3] - Labor-intensive industries contributed 0.8 percentage points, an increase of 0.5 percentage points from November[3] - Agricultural exports contributed 0.4 percentage points, also up from the previous month[3] Product Highlights - General machinery exports surged by 29% year-on-year in December, contributing 0.5 percentage points to overall export growth[3] - Automotive exports grew by 12%, while auto parts saw a 16% increase, each contributing 0.4 percentage points[3] Risks - Potential risks include unexpected geopolitical tensions, macroeconomic downturns, and significant fluctuations in overseas markets[4]