2025年12月进出口数据解读：出口强势收官，今年有望保持强韧性

Export Performance - In December 2025, China's exports reached $357.8 billion, with a year-on-year growth rate of 6.6%, up from 5.9% in the previous month, and above the ten-year average of 3.4%[1] - Imports in December totaled $243.6 billion, with a growth rate of 5.7%, significantly higher than the previous month's 1.9% and the ten-year average of 0.8%[1] - The trade surplus for December was $114.14 billion, compared to $111.68 billion in the previous month[1] Market Dynamics - The strong export growth in December was supported by global economic recovery and ongoing market diversification, with ASEAN exports growing by 11.2% and exports to Hong Kong increasing by 31.4%[1][5] - The PMI for global manufacturing remained above the threshold at 50.4, indicating continued economic expansion, which positively influenced export orders[5] Product Categories - High-tech product exports grew by 16.6%, while mechanical and electrical products saw a 12.1% increase; however, labor-intensive product exports continued to decline, with a rate of -8.5%[3][20] - Notable increases in specific categories included automotive exports rising by 71.6% and integrated circuits by 47.7%[3][20] Regional Trade Insights - Exports to the United States continued to decline, with a year-on-year decrease of 30%, contributing negatively to overall export growth[1][14] - Exports to Africa remained strong, with a growth rate of 21.8%, contributing 1.2 percentage points to overall export growth[1][14] Future Outlook - China's overall export growth for 2025 is projected at 5.5%, slightly down from 5.8% in 2024, with expectations of continued resilience despite external uncertainties[25] - The ongoing diversification of export markets and improvements in product competitiveness are expected to support future growth[25][32]