China December Exports, Imports Fall Again Amid Weak Demand

China's exports and imports declined for the second consecutive month in December, reflecting weakening external and domestic demand amid the financial crisis, customs officials said Tuesday.

Exports fell 2.8 percent year-on-year to 111.16 billion U.S. dollars, while imports fell 21.3 percent to 72.18 billion U.S. dollars, the General Administration of Customs said.

The trade surplus was 38.98 billion U.S. dollars, down from November's record high of 40 billion U.S. dollars.

Total trade for 2008 was 2.56 trillion U.S. dollars, up 17.8 percent from 2007.

Exports fell 2.2 percent year-on-year in November, the first monthly decline since June 2001. The previous decline, a much smaller 0.6 percent, reflected slumping U.S. demand after the tech bubble burst.