China’s 1 Trillion Dollar Trade Win.
China’s exports returned to growth in November following an unexpected contraction the month before, although shipments to the United States dropped nearly 29% from a year earlier in an eighth straight month of double-digit declines.
Overall exports from China were 5.9% higher than last year in November in dollar terms, customs data released on Monday showed, at $330.3 billion, better than economists’ estimates. That was an improvement from a 1.1% contraction in October.
Underscoring a widening gap between overall exports and imports, the customs data showed that China’s trade surplus for the first 11 months surpassed the $1 trillion mark, at nearly $1.08 trillion. That’s a record high for any single year and is more than the $992 billion surplus in all of 2024, based on official data compiled by FactSet. By ‘Associated Press’ and ‘CNN’
