December 8, 2018 / 3:27 AM / 5 months ago

China Nov exports +5.4 pct y/y, imports +3.0 pct, far below forecasts

BEIJING, Dec 8 (Reuters) - China’s November dollar-denominated exports rose 5.4 percent from a year earlier, while imports expanded 3.0 percent, both far below analysts’ expectations, official data showed on Saturday.

That left the country with a trade surplus of $44.74 billion for the month, the General Administration of Customs said.

Analysts polled by Reuters had expected November shipments from the world’s largest exporter to have risen 10.0 percent. Exports surged 15.6 percent in October.

Imports were expected to have climbed 14.5 percent, after rising 21.4 percent in October.

Analysts were expecting China’s trade surplus to have held steady in November at $34 billion from $34.02 billion in October.

With the export outlook clouded by U.S. tariffs and China’s economy expanding at the weakest pace since the global financial crisis, policymakers in Beijing have recently turned their focus to growth-boosting measures, including increasing export tax rebates and pledging more support to private firms.

In Argentina last weekend, Presidents Donald Trump and Xi Jinping agreed to a 90-day truce that delayed the planned Jan. 1 U.S. hike of tariffs to 25 percent from 10 percent on $200 billion of Chinese goods while they negotiate a trade deal. (Reporting by Beijing Monitoring Desk; Editing by Richard Borsuk)

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