China: Exports rise for first time in eight months in November
December 8, 2016
Exports rose 0.1% annually in November, contrasting the 7.3% drop recorded in October. The print beat the 5.0% decline that market analysts had expected and represented the first positive reading since March 2016. Exports have benefited from the weakening of the yuan, which has lost more than 6.0% of its value since the start of the year.
Meanwhile, imports expanded at the fastest pace in over two years in November, rising 6.7% annually. The print contrasted the 1.4% decrease recorded in October and beat the 1.9% drop that market analysts had expected.
As a result of the strong rebound in imports, the trade surplus declined from USD 54.0 billion in November 2015 to USD 44.6 billion in November this year. The 12-month moving sum of the trade surplus decreased from October’s USD 573 billion to USD 563 billion in November, which marked the lowest value since August 2015.