China's Exports Rise 33% to Record; Trade Gap Widens

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Jan. 11 (Bloomberg) -- China's exports rose 33 percent to a record in December, widening the trade surplus to an all-time high, as consumers in the U.S., Europe and Japan bought more Chinese-made clothes, cell phones and computers.

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Surging exports are helping drive growth in the world's seventh-largest economy as the government restricts lending and raises interest rates to cool runaway investment in industries including autos, steel and cement. Commerce Minister Bo Xilai on Dec. 25 said exports probably accounted for 30 percent of gross domestic product last year.

For the whole of last year, exports rose 35 percent to $593.4 billion and imports gained 36 percent to $561.4 billion, leaving a trade surplus of $32 billion.

Bloomberg