China’s exports rose to a record high in November, with the effect of the end of the year holiday approaching and the strong increase in foreign demand.
According to the statement made by the Customs Administration on Tuesday, exports increased by 22 percent in dollar terms compared to the same month of the previous year and reached approximately 326 billion dollars, while imports increased by 31.7 percent.
As a result, the foreign trade surplus amounted to 71.2 billion dollars. Economists had expected exports to increase by 20.3 percent and imports by 21.5 percent.
These data show that global demand for Chinese goods, which was strong during the pandemic period, still remains strong.
If the spread of the new omicron virus variant becomes serious and other countries start to shut down again, this will likely boost China’s exports, particularly in personal protective equipment. Exports generally peak towards the end of the year, with the support of the Christmas shopping period.
However, the growth rate may be lower this year as the base for comparison was higher last year.
