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China's exports soar in Nov as trade surplus hits record US$75b
来源： 编辑：编辑部 发布：2020/12/09 10:02:31
CHINA's trade surplus soared to a record US$75.4 billion in November as exports surged 21.1 per cent over a year earlier, driven by American consumer demand.
Customs data showed that exports to the US rose 46 per cent despite the on-going tariff hikes in a trade war with Washington.
Exports to the US rose to $51.9 billion while imports of American goods gained 33 per cent to $14.6 billion. The trade surplus with the US swelled 52 per cent over a year earlier to $37.3 billion.
Total exports rose to $268 billion, an increase from October's 11.4 per cent growth. Imports gained 5 per cent to $192.6 billion, up from the previous month's 4.7 per cent.
"Exports were much stronger than expected in November," said Julian Evans-Pritchard of Capital Economics in a report.
Forecasters say that surge is unlikely to last into 2021 once coronavirus vaccines are rolled out. We expect export performance to be less impressive," said Louis Kuijs of Oxford Economics in a report.
China's global trade surplus for the first 11 months of 2020 is $460 billion, up 21.4 per cent from this time last year, already one of the highest ever recorded, reports Associated Press.
China is on track to become the only major economy to grow this year while activity in the United States, Europe and Japan falls.
In November, exports to the 27-nation European Union rose 8.6 per cent over a year ago to $37.5 billion while imports of European goods gained 4.5 per cent to $26.2 billion. China's trade surplus with Europe widened by 20 per cent to $11.3 billion.
Customs data showed that exports to the US rose 46 per cent despite the on-going tariff hikes in a trade war with Washington.
Exports to the US rose to $51.9 billion while imports of American goods gained 33 per cent to $14.6 billion. The trade surplus with the US swelled 52 per cent over a year earlier to $37.3 billion.
Total exports rose to $268 billion, an increase from October's 11.4 per cent growth. Imports gained 5 per cent to $192.6 billion, up from the previous month's 4.7 per cent.
"Exports were much stronger than expected in November," said Julian Evans-Pritchard of Capital Economics in a report.
Forecasters say that surge is unlikely to last into 2021 once coronavirus vaccines are rolled out. We expect export performance to be less impressive," said Louis Kuijs of Oxford Economics in a report.
China's global trade surplus for the first 11 months of 2020 is $460 billion, up 21.4 per cent from this time last year, already one of the highest ever recorded, reports Associated Press.
China is on track to become the only major economy to grow this year while activity in the United States, Europe and Japan falls.
In November, exports to the 27-nation European Union rose 8.6 per cent over a year ago to $37.5 billion while imports of European goods gained 4.5 per cent to $26.2 billion. China's trade surplus with Europe widened by 20 per cent to $11.3 billion.