New data released today shows China’s exports rebounded much more strongly than expected in November, as manufacturers quickly shipped out inventory before the end of the year.
According to offical data from FactSet, China’s trade surplus for the first 11 months surpassed the $1 trillion mark, at nearly $1.08 trillion, a record high for any single year.
Although exports from China to the US have declined for most of the year, shipments have increased to other regions, such as Southeast Asia, Africa, Latin America, and the European Union.
The customs data indicated that China’s total exports in November grew by 5.9% year-over-year in dollar value, amounting to $330.3 billion, an improvement from the 1.1% decline seen in October.
Shipments to the United States dropped almost 29% compared to a year earlier, marking the eighth consecutive month of double-digit declines.
China’s imports increased 1.9% in November, at more than $218.6 billion.
According to the Peterson Institute for International Economics, US tariff levels on Chinese goods stay high at approximately 47.5%.
China’s tariffs on US imports are approximately 32%.
By CEO NA Editorial Staff
