Beijing, China (4E) – Exports by China increased higher than anticipated in November, boosting the trade surplus to its highest level in more than four years, an indication that the recovery in the world’s second largest economy is being sustained by global demand.
China’s trade surplus in November climbed to $33.8bn, compared with $31.1bn in the previous month. Exports bounced back, jumping 12.7 percent from the same period last year, way up from the 5.6 percent growth posted in October. Experts say that it is a positive sign for China as well as the global economy.
Shipments overseas is higher by 5.8 percent from October on a seasonally adjusted basis, from the 3.8 percent decline in the previous month, according to customs data released Sunday.
The trade surplus surpassed estimates from 41 of 42 analysts in a Bloomberg News survey. The figure was the biggest since January of 2009, while imports rose 5.3 percent, compared with the 7 percent median projection.
The modest year-over-year of growth in imports widens the trade surplus, which has been a source of dispute between U.S. and China. China’s trade surplus has helped the country accumulate $3.66tn in foreign exchange reserves as of the end of the third quarter.