Chinese exports rose, as the cheaper yuan encourages deliveries abroad. The imports also increased, and with the strongest pace in two years. The exports from China grew by 0.1% yoy in dollar dimensions in November, beating the forecast of economists for decline of 5%. The imports increased by 6.7% against the expectations for a 1.9% decline. Thus, the trade surplus of China reached 44.6 billion USD, according to the customs administration.
Chinese yuan depreciated by 10% against the US dollar, since the surprise currency devaluation in August 2015. The stabilization of exports, however, suggests that demand for Chinese products abroad remains stable, although the country faces potential headwinds and uncertainty in politics pending management Donald Trump. Newly elected US president will take office on January 20.
Better trade data from China reflect the improvement in global demand and the strength of the domestic economy. Despite today’s pleasant surprise the medium-term prospects for China’s trade remains challenging. Recovering domestic demand encouraged imports. The exports, which returns to growth, reflecting the widespread improvement in the global economy this year.
The exports to the US, which the largest trading partner of China increased by 8.1% in November.
The good figures are in part due to weaker values over the same month last year. Then exports in dollar dimensions fell 4.3%, while imports rose 2.3% after seasonal adjustment of data.
The inverted in local currency, exports increased by 5.9% and imports by 13% yoy.
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