China’s exports in November increased by 0.5% year-on-year, while imports fell by 0.6%. According to data released by the General Administration of Customs of China on Thursday morning, this resulted in a trade surplus of US$68.39 billion, an expansion of 4%. This marks a significant improvement compared to the previous six consecutive months of decline in exports. However, imports experienced negative growth again after a month, albeit a slight decline.
Market expectations were exceeded for exports in November, which were better than expected, while imports were lower than expected, and the trade surplus was higher than expected. Economists surveyed by the Wall Street Journal had predicted flat year-on-year exports, a 3% increase in imports, and a trade surplus of US$57.1 billion.
The cumulative data in US dollars from January to November showed a 5.2% year-on-year decrease in exports, a 6% decrease in imports, and a trade surplus of US$748.13 billion, narrowing by 2.7%. From January to October, exports had fallen by 5.6% year-on-year, imports by 6.5%, and the trade surplus was US$684.04 billion.
Looking ahead to 2022, China’s exports are projected to increase by 7.0% year-on-year, with imports increasing by 1.1%, and the trade surplus reaching US$877.6 billion. China Customs also released data denominated in RMB, showing exports increasing by 1.7% in November, imports by 0.6%, and the trade surplus expanding by 5.5%.
The article concludes with a note that this information comes from Dow Jones Chinese Financial News.