China’s exports rise 13% while imports lose pace
Print Edition
China’S exports in November surged 12.7 percent from a year earlier while imports lost their pace, growing 5.3 percent, according to official data yesterday.
Exports rose to US$202.2 billion last month, compared with October’s gain of 5.6 percent and September’s decline of 0.3 percent, according to the General Administration of Customs. Imports rose to US$168.4 billion in November, slower than the 7.6 percent gain in October. The trade surplus totaled US$33.8 billion, up from October’s US$31.1 billion.
“China’s trade remained stable,” said Zhou Hao, an economist at Australia & New Zealand Banking Group Ltd (ANZ). “The exports came in much higher than expected due to better demand from developed economies. But imports unexpectedly slowed, pointing to weaker domestic demand.”
China’s shipments to the United States last month expanded 17.7 percent from 8.1 percent in October and those to the European Union grew by 18.4 percent from 12.7 percent in the previous month.
Li Maoyu, an analyst at Changjiang Securities Co, said the data were in tandem with a stable economy, which should help reforms that are being planned.
Li also said the January-November data suggested that China may achieve the target of an 8 percent growth in trade for the whole year. In the first 11 months, China’s trade gained 7.7 percent year on year to US$3.8 trillion, the data showed.
ANZ’s Zhou predicted China’s trade surplus to easily exceed US$240 billion this year, which will be the highest since 2008 as the surplus has already hit US$234 billion in the first 11 months.
Meanwhile China will continue to conclude more free trade agreements with other countries and regions, as the FTAs have played a key role in accelerating the country’s trade, a commerce ministry official said last week.
China’s gross domestic product grew 7.7 percent from a year earlier in the first three quarters, with the third quarter’s pace at 7.8 percent from 7.5 percent in the second quarter.
Today China will unveil other key economic data, including inflation, industrial production, investments and retail sales.
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