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BEIJING (MNI) - China's General Administration of Customs released November
trade data on Friday:
Exports rose 12.3% year-on-year in November in U.S. dollar terms, double
MNI's survey median forecast for a 6.0% y/y gain and well above the growth rate
of 6.9% in October. The export growth rate was the highest since March 2017 when
it stood at 15.6%.
Imports rose 17.7% year-on-year in November in U.S. dollar terms, also
higher than the MNI survey median forecast for an 11.0% y/y gain and slightly
above the 17.2% rise in October. Imports rose for the 13th month in a row, with
the growth rate accelerating in each of the four month recent months.
China posted a $40.21 billion trade surplus in November, higher than the
MNI survey median forecast for a $36.50 billion surplus and above October's
$38.19 billion surplus.
In yuan terms, the trade balance was in surplus by CNY263.6 billion,
compared with the CNY254.50 billion surplus in October.
The trade balance in the first 11 months of the year amounted to $375.98
billion, below the $472.08 billion surplus in the same period last year, with
exports rising 8.0% y/y and imports up 13.7% y/y.
--MNI BEIJING Bureau; +1 202-371-2121; email: firstname.lastname@example.org
--MNI Beijing Bureau; +86 (10) 8532 5998; email: email@example.com