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China Nov exports rise 12.3 pct y/y and imports up 17.7 pct, well above f'casts
December 8, 2017 / 3:41 AM / 7 days ago

China Nov exports rise 12.3 pct y/y and imports up 17.7 pct, well above f'casts

BEIJING, Dec 8 (Reuters) - China’s November exports and imports blew past market expectations, with year-on-year gains of 12.3 percent and 17.7 percent, respectively, official data showed on Friday.

That left the country with a trade surplus of $40.21 billion for the month, according to a Reuters calculation based on official data.

Analysts polled by Reuters had expected November shipments from the world’s largest exporter to have risen 5.0 percent, slower than the 6.9 percent increase in the previous month.

Imports had been expected to rise 11.3 percent, softening from an 17.2 percent gain seen in October, with the trade surplus forecast at $35.0 billion last month from October’s $38.185 billion.

After several lean years, China’s trade performance has rebounded this year thanks to strong demand at home and abroad.

While exports are contributing to China’s economic growth once again, global investors have been more focused on its strong appetite for industrial commodities such as iron ore and coal, which is boosting resources prices worldwide. (Reporting by Beijing Monitoring Desk; Editing by Shri Navaratnam)

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