(NBS) China registered a trade surplus of $71.72 billion in November, lower than the forecasted $82.75 billion and below $84.54 billion posted in October.
China’s slowdowns in trade surplus reflected higher imports, which rose by 31.7%, more than the forecasted jump of 20.6% and October’s 19.8% increase. The rise in imports was driven by a surge in restocking.
Coal imports were at the highest level in November this year as China scrambled to acquire the commodity to address the power rationing. Copper imports rose to the highest level since March.
Exports slowed to a 22% year-over-year gain, compared to a 27.1% increase in October, despite remaining above the expected 19.0% surge. The slowdowns in exports were related to weak demand, higher costs, and strong yuan.
Analysts now expect an accommodative monetary policy by Beijing as the economy stagnates amid troubles facing the property sector, power shortages, and crackdowns on critical industries.
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