China Dec. trade surplus shrinks to $13.1 billion (by V. Phani Kumar)

HONG KONG (MarketWatch) -- China's trade surplus narrowed further in December as the growth in imports again outpaced exports, according to official data released Monday. The country's trade balance for the month stood at $13.1 billion, shrinking sharply from November's $22.9 billion and October's $27.1 billion. Imports climbed 25.6% from the the year-earlier month, higher than the 17.9% year-on-year increase recorded in China's exports. In November, the rate of growth in both imports and exports had both stronger, at 37.7% and 34.9%, respectively. Estimates compiled by FactSet Research showed economists expected a 25% rise in imports, only marginally higher than the 23% growth anticipated in exports. For the full year ended Dec. 31, China's trade surplus contracted to $183.1 billion from $196.06 billion in 2009.