Chinese exports see uptick in November, ending 7-month consecutive decline

Posted on December 11, 2023   |  

China's exports grew by 0.5% in November, marking the first rise since April, hinting at a potential increase in demand.

The total value of exports reached $291.9 billion, showing positive growth after several months of decline.

However, imports dropped by 0.6% to $223.5 billion in November, following a 3% increase in October.

Despite reopening after COVID-19 controls, China faced hurdles in foreign trade due to weak global demand and a slow recovery throughout the year.

In November, the trade surplus reached $68.4 billion, a 21% increase compared to October's figure of $56.5 billion.

Chinese exports, a significant economic driver, have generally declined since October 2022, with a brief rebound in March and April.

Weak demand for Chinese exports coincided with global central banks raising interest rates, affecting the economy amid challenges in the property sector.