DHAKA: Chinese exports defied expectations in December to rise 2.3% from a year ago in yuan-denominated terms.

Forecasts were predicting a 4.1% fall in exports, but a weakening currency may have boosted the lagging sector, reports the BBC.

Imports also beat expectations in yuan-dominated terms to only fall 4%, compared to forecasts of a 7.9% slump.

The jump in exports was the first rise since June last year as the sector has been battered by slowing demand and slumping commodity prices.

For the year, exports fell 1.8%, while imports tumbled 13.2% from 2014.

China's customs spokesperson Huang Songping said at a news conference in Beijing that the country's exports fell last year due to weak external demand.

The country's central bank had been aggressively weakening the yuan guidance rate -the rate the bank fixes for the currency on a daily basis - last week in an attempt to boost the sector.

But the depreciation of the yuan sparked fears that other countries in the region would also start to devalue their currencies to compete with China on exports and that rattled global markets.

BDST: 1038 HRS, JAN 13, 2016
RS