Merchandise trade surplus widens in December

Latest reading: In December, the trade balance was USD +19.4 billion, following a USD +16.1 billion reading in the prior month. Over the last 12 months, the trade balance summed to USD +157.1 billion. Exports rose 43.4% in annual terms in December, following a 56.0% increase in the previous month. Exports rose by double digits to all key trading partners, with sales to the U.S. increasing the most. As in past months, higher sales of IT products—linked to the boom in global AI demand—drove exports. Imports were up 14.9% in year-on-year terms in December, following 45.0% growth in the prior month.

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