The Chinese trade international surplus in November declined compared to October but registered record highs in exports and imports, according to a release by the General Administration of Customs. China’s surplus decreased to $22.9 billion in November following a surplus of $27.1 billion in October but still managed to surpass economic forecasts expecting a surplus of $21.20 billion.
October’s surplus had marked the second-highest monthly surplus of the year behind July.
On an annual basis, the November trade surplus was 15 percent higher compared to the surplus level in November 2009.
Exports and imports both rose to a record high with exports growing by 34.9 percent to a total of $153.33 billion while imports increased by 37.7 percent to a total of $130.43 billion in November.
The export and import numbers both rose by much more than expected as economists predicted imports and exports to increase by approximately 24 percent each in November.
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By FxNewsChina – China Forex News
