(Yicai Global) Dec. 7 -- China's trade surplus more than doubled last month from a year earlier due to a stronger-than-expected increase in exports.
The surplus was USD75.4 billion in November, according to data the General Administration of Customs released today. That was 44 percent higher than the average predicted by 24 chief economists at major Chinese financial institutions polled by Yicai Global.
Trade rose 13.6 percent to USD460.7 billion, with exports climbing 21.1 percent, the fastest increase since February 2018, to USD268.1 billion. That was faster than the 11.4 percent gain economists anticipated. Imports rose 4.5 percent to USD192.7 billion, below an expected 5.5 percent gain.
China’s manufacturers has been back up and running for months, while overseas competitors contend with lockdowns due to the coronavirus.
For the January to November period, China’s trade increased 0.6 percent to USD4.17 trillion, overcoming the impact of the Covid-19 pandemic. Exports gained 2.5 percent, while imports fell 1.6 percent. The trade surplus jumped 23 percent to USD459.9 billion.
Editor: Emmi Laine