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China's Nov export, import growth shrinks; surplus with U.S. record high

10-Dec-2018
China's Nov export, import growth shrinks; surplus with U.S. record high

China's export growth slowed last month weighed down by slowing global demand and trade tensions with the United States, official data released.

Exports rose 5.4 per cent for November on-year, short of the 9.4 per cent forecast by Bloomberg News, while imports rose 3.0 per cent on-year, also below the forecast, according to Customs Administration Data.

China's overall trade -- what it buys and sells with all countries -- logged a USD 44.7 billion surplus in November, up from USD 35 billion the previous month, the data showed.

The sagging export and import growth is another bad sign for China's economy, which grew at its slowest pace for nine years in the third quarter, expanding 6.5 per cent on-year for July-September.

China's trade surplus with the US has reached records highs this autumn as China has cut back imports from the US while American importers have rushed goods across the Pacific to beat the higher tariffs most expected in January.




Source :- Dailyshippingtimes.com

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