Chinese exports to the US continued to withstand trade war pressures in November, with Beijing’s bilateral trade surplus jumping to $35.6 billion – the highest ever recorded.
Shipments to the US rose nearly 10% on a yearly basis to $46.2 billion, while imports into China dropped 25% to just $10.7 billion, according to China’s General Administration of Customs.China’s overall trade picture was less rosy, however, with global shipments growing at the slowest pace in eight months, the official figures showed.
Exports climbed 5.4% year-on-year to $227.4 billion and imports grew just 3% to total $182.7 billion, pointing to sustained weak demand back home. China’s overall trade surplus grew to $44.75 billion last month.
Analysts warn that this downward trend is likely to continue as both the Chinese and global markets face a bleak economic outlook.
“(China’s) foreign trade will decelerate eventually as domestic and foreign economic growth moderates and prices fall,” analysts from China Merchants Bank told Caixin.