China's imports jumped in November
Supported by robust global demand ahead of the year-end holidays, China's exports remained strong in November, posting a value of USD 325.5bn, the highest level in history. The y/y growth, affected by high base in 2020 however, decelerated to 22% from 27.1% in the previous month. China's imports jumped by 31.7% y/y to USD 253.8bn in November, the highest value in history as domestic production rebounded from the power crunch. The higher growth rate of imports decreased China's trade surplus. In November, China posted a trade surplus of USD 71.7bn, down from the USD 84.5bn in the previous month.
The US was China's No.1 export destination in November. Imports from the US surged in November while exports to the US slightly increased. In November, the value of China's exports to the US was USD 54.7bn while the value of China's imports from the US was USD 17.8bn. In November, China's trade surplus with the US declined further to USD 36.9bn from USD 40.75bn in the previous month.
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Further data and analysis on China's economy are available on the CEIC China Economy in a Snapshot – Q4 2021 report.