China Nov Exports +12.3% on Year; Expected +6.0%

Chinese exports surged more than twice the expected pace in NovemberMore

Chinese exports surged more than twice the expected pace in NovemberMore

According to China's General Administration of Customs, imports grew by 17.7% in USA dollar terms, above the 17.2% increase of October and forecasts for a smaller gain of 11.3%.

Meanwhile, China's exports of unwrought aluminium and aluminium products rebounded in November after four straight months of declines.

China's iron ore imports rose in November, though steel mills are cutting output as part of a government drive against pollution. According to calculations from Reuters, that was the second-highest monthly total on record.

Exports were at 4.35 million tonnes in January-November, up 3.7 percent year on year, customs said.

Imports grew 17.7 percent year-on-year in November, also well above expectations of 11.3 percent growth and rising at the fastest pace since September.

It was the fastest annual increase since March 2017.

The trade surplus, a source of tension with major trade partners, came in at $40.2 billion, down from $43.1 billion a year earlier but more than the median projection of $35 billion. The official factory gauge unexpectedly rose to near a five-year high in November, despite campaigns to clean up the environment and the financial system.

The data has helped lift riskier assets across the region, seeing stocks add to earlier gains and helping to reverse earlier losses in the Australian and New Zealand dollar's and Chinese commodity futures.

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