Thursday, 18 July 2024
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In the seven months, China’s exports increased while imports decreased

  • China‘s imports decreased in November while its exports increased for the first time since April.
  • Exports increased 0.5% year over year to $291.9 billion.
  • Imports decreased 0.6% to $223.5 billion after increasing 3% in October.

China’s exports rose in November for the first time since April, while the country’s imports fell. Exports reached $291.9 billion, up 0.5% YoY, suggesting potential growth in demand.

At $223.5 billion, imports fell by 0.6%. China suffers from slow foreign trade because of weak global demand and a sluggish recovery, even after COVID-19 controls were lifted.

China’s Imports and Exports

According to customs data released on Thursday, China’s imports decreased in November while its exports increased for the first time since April.

Exports increased 0.5% year over year to $291.9 billion, suggesting that demand may be increasing after months of decline. In contrast, imports decreased 0.6% to $223.5 billion after increasing 3% in October.

Even though China reopened after its stringent COVID-19 controls were lifted late last year, the nation has struggled with slow foreign trade this year due to weak global demand and a sluggish recovery.

Compared to October’s $56.5 billion, the trade surplus of $68.4 billion increased by 21%. Following the Federal Reserve’s and central banks’ hikes in interest rates last year to curb multi-decade high inflation, there has been little demand for Chinese exports.

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