China: Trade figures moderate in November
Export growth decelerated from 15.6% in October to 5.4% in November. The print was the weakest growth in eight months and nearly halved the 10.0% increase that market analysts had expected.
Imports expanded a mild 3.0% over the same month last year in November, which undershot October’s 21.4% increase. The print represented the weakest expansion in over two years and came in well below the 14.5% expansion that market analysts had forecast.
The trade surplus rose from USD 38.4 billion in November 2017 to USD 44.8 billion in November 2018 (October 2018: USD 34.0 billion). The 12-month moving sum of the trade surplus increased from USD 347 billion in October to USD 353 billion in November.