China’s Exports Jump 5.9% in November, While Trade with US Declines

Significantly Exceeds Market Forecast of 4%

While the trade war between the United States and China is currently in a truce, China’s export figures for last month surpassed market expectations.

On the 4th (local time), cars waiting for export in Lianyungang, Jiangsu Province, eastern China. Photo by AFP Yonhap News

According to the General Administration of Customs of China on December 8, China’s exports in November reached 330.35 billion US dollars, an increase of 5.9% compared to the same period last year. This figure exceeds the median market forecast of 4% compiled by Bloomberg. In contrast, China’s imports last month totaled 218.67 billion US dollars, up 1.9% year-on-year, falling short of the market expectation of 2.8%. As a result, China’s trade surplus for last month stood at 111.68 billion US dollars, bringing the total trade surplus for January to November this year to 1.07585 trillion US dollars.

China’s trade with the United States showed a significant decline in both exports and imports. Last month, China’s exports to the United States amounted to 33.7891 billion US dollars, a decrease of 28.6% compared to the same period last year. Imports from the United States also shrank by 19.1% year-on-year to 10.0533 billion US dollars. For the January to November period, China’s exports to the United States dropped by 18.9%, imports declined by 13.2%, and total trade volume fell by 17.5%.

Despite reducing trade with its largest trading partner, the United States, China was able to increase its overall exports due to expanded trade with Southeast Asia. From January to November this year, China’s total exports to ASEAN (Association of Southeast Asian Nations) countries increased by 13.7% year-on-year, with notable growth in exports to Vietnam (22.7%), Thailand (20.4%), and Malaysia (13.3%).

By product category, China exported a total of 7,331,000 automobiles from January to November this year, up 25.7% from the previous year, but the export value rose by only 16.7%. Exports of ships and liquid crystal display (LCD) modules increased by 17.8% and 10.8%, respectively, while fertilizer exports also grew by 46.4%.

The General Administration of Customs of China also reported that exports of rare earths, which have served as a bargaining chip for China in the US-China trade dispute, increased from 4,434.5 tons in October to 5,493.9 tons in November. The cumulative export volume for January to November rose by 11.7% year-on-year, while the export value increased by 0.1%.

This content was produced with the assistance of AI translation services.