China’s Exports Slow, Imports Decline In Nov

Hong Kong: China’s exports slowed in November and its imports declined, falling below fore-casts and underscoring potential weakness in trade at a time when its leaders are striving to boost the economy after the shocks of the COVID-19 pandemic.

Customs data Tuesday showed exports grew 6.7 per cent from a year earlier, down from a 12.7 per cent increase in October.

Analysts had estimated that exports had risen more than 8 per cent. Imports fell 3.9 per cent from a year earlier, reflecting weak demand from industries and consumers. With exports outpacing imports, China’s trade surplus rose to USD 97.4 billion. The report came a day after Beijing pledged to loosen monetary policy and provide more support for the world’s No. 2 economy.

US President-elect Donald Trump has threatened to slap tariffs of 60 per cent or more on imports of Chinese goods, complicating Beijing’s efforts by threatening an area of the economy that has performed relatively well while the property sector remains in the doldrums and consumer spend-ing remains fragile. Some analysts say that the latest setbacks are likely to be temporary.