China’s exports slumped more than expected in November but the decline in imports slowed, a tentative sign that domestic demand is on the mend, figures showed Tuesday.
November exports fell 6.8 percent from a year ago, dropping for a fifth month, while imports fell 8.7 percent over the same period, China’s General Administration of Customs said on Tuesday. The trade surplus narrowed to $54.1 billion from the record high of $61.64 billion last month
The trade figures compare with a Reuters’ analyst poll of a decline of 5.0 percent for exports and a fall of 12.6 percent for exports.
Exports had fallen by 6.9 percent from a year earlier in October while imports had tumbled 18.8 percent.
Separately, yuan-denominated data showed a 3.7 percent fall in exports from a year earlier, while imports fell 5.6 percent. That left the country with a trade surplus of 343.10 billion yuan for the month.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.