Home  Contact Us
  Follow Us On:
 
Search:
Advertising Advertising Free Newsletter Free E-Newsletter
NEWS

China exports rise for first time in 8 months
Published on: 2016-12-09
Share to
User Rating: / 0
PoorBest 

030China's exports and imports both increased in November 2016, reversing months of decline and reflecting an uptick in global demand and stabilization of the world's second-largest economy.


Exports grew for the first time in eight months to $196.8 billion last month with a 0.1% uptick compared to a year earlier, reversing October's 7.3% decline, according to data released by the General Administration of Customs on Thursday.


Imports rose 6.7% to $152.2 billion, the highest growth rate since September 2014. Both readings defied estimates in a survey of 15 financial institutions, whose economists projected exports would drop 4.8% and imports would fall 2.8%.


That brought the November trade surplus to $44.61 billion, down from $49.06 billion a month earlier. Trade gains were even stronger when measured in China's currency, which has weakened against the dollar. In yuan terms, exports rose 5.9% from a year earlier while imports jumped 13%.


"The improvement (in exports) reflects a strengthening in global demand, with recent business surveys suggesting that developed economies are on track to end the year on a strong note," Julian Evans-Pritchard, Capital Economics' China economist, said in a note.


Exports to China's top two destinations - the United States and the European Union - rose 12.7% and 5.1% respectively, as signs show that the world's leading economies are stabilizing and global demand is strengthening, said Liu Yaxin, a macroeconomic analyst at China Merchants Securities Co. Ltd.


Toy export growth accelerated by 53.9%, showing better Christmas demand this year than last year.


Imports of major commodities, including iron ore, crude oil, coal and soybeans, also rose in November. The improvement was mostly driven by strong domestic demand and a recent pickup in the global price of commodities, Liu said.

Comments (0)Add Comment

Write comment

security code
Write the displayed characters


busy
    Subscription    |     Advertising    |     Contact Us    |
Address: Magnetic Plaza, Building A4, 6th Floor, Binshui Xi Dao.
Nankai District. 300381 TIANJIN. PR CHINA
Tel: +86 22 23917700
E-mail: webmaster@businesstianjin.com
Copyright 2024 BusinessTianjin.com. All rights reserved.