China Trade Surplus Narrows in November


China reported a USD 44.61 billion trade surplus in November of 2016, compared to a USD 53.97 billion surplus a year earlier. Figure came below market consensus of a USD 46.3 billion surplus, as exports rose much less than imports.

In November, sales unexpectedly edged up 0.1 percent from a year earlier to USD 178.18 billion, following a 7.3 percent drop in the preceding month and beating market estimates of a 5.0 percent fall. It was the first gain since March.

Imports went up 6.7 percent to USD 129.12 billion, compared to a 1.4 percent fall in October while market expected a 1.3 percent decline. It was the fastest growth since September 2014.

In yuan-denominated terms, exports rose 5.9 percent from a year ago, following a 3.2 percent drop in a month earlier and marking the first increase in three months. Inbound shipments jumped 13.0 percent, following a 3.2 percent rise in October.

In October 2016, trade surplus came in at USD 49.06 billion.

Considering the first eleven months of 2016, total trade in USD decreased by 6.9 percent  from a year earlier. Exports dropped by 7.5 percent. Sales were down to Hong Kong (-9.3 percent), Japan (-4.6 percent), South Korea (-9.1 percent), Taiwan (-11.1 percent), ASEAN countries (-8.0 percent), the EU countries (-4.4 percent), South Africa (-19.7 percent), Brazil (-22.1 percent), the US (-6.6 percent), Australia (-7.7 percent) and New Zealand (-2.8 percent). In contrast, outbound shipments rose to India (+0.5 percent) and Russia (+7.2 percent). Imports declined by 6.2 percent, mainly due to lower commodity prices.

General Administration of Customs l Rida Husna | rida@tradingeconomics.com
12/8/2016 6:04:42 AM