BEIJING (Reuters) – China’s exports in December rose 7.6% from a year earlier, customs data showed on Tuesday, signaling a modest recovery in demand as a preliminary trade deal with the United States raised hopes that a prolonged tariff war will be de-escalated.

It was the first rise in China’s exports since July 2019 and the fastest growth rate since March 2019.

The median forecast from a Reuters poll of analysts had been for a 3.2% rise in exports in December, following November’s 1.3% drop.

Imports in December rose 16.3% from a year earlier. The Reuters poll had forecast 9.6% growth.

China posted a trade surplus of $46.79 billion in December, compared with the poll’s forecast for a $48-billion surplus, up from November’s surplus of $37.93 billion.

(This story corrects milestone reference in paragraph 2 to note December exports rose for first time since July 2019, not March 2019)