Quantcast

Dec 8, 7:25 AM EST

China trade in November rebounds from slump


AP Photo
AP Photo/Andy Wong

Multimedia
Video photo gallery on trash in China
China celebrates 60th year
Panorama of Tiananmen Square
Remembering Tiananmen
A year after China quake
Migrant laborers struggle to find work
Checking Beijing's Air
China's morning exercises in parks
Exploring Chinese Cuisine
Beijing Architecture Changes For Games
Woman Rescues Homeless Quake Dogs
China Holds Funeral for Panda
China's 1-child Policy Causes Extra Pain
Map of Earthquake Zone in Central China
Entrepreneurs Move Into, Out of China
Olypmics in Beijing Highlight China's Water Woes
Foreign Buyers Head to China Despite Problems
Coal Use Produces Pollution, Illness
Coal Means Profit, Woes for China
China Extending Its Reach Around the World
In China, the Desert Closes In
Latest News
Report: Tibetan Buddhist monk self-immolates in west China

China trade in November rebounds from slump

Philippines says it won't help US patrols in South China Sea

China warns US on Taiwan leader's planned transit

7 dead in latest China mine blast; 60 miners killed in week

Audio Slideshow
Panorama of Tiananmen Square
Remembering Tiananmen

BEIJING (AP) -- China's exports grew in November for the first time in nine months while imports also rose in a sign global and domestic demand are recovering.

Exports rose 0.1 percent to $19.7 billion, an improvement over October's 7.3 percent contraction, customs data showed Thursday. Imports rose 6.7 percent to $15.2 billion, up from the previous month's 1.4 percent decline.

The trade slump has added to pressure on communist leaders to prop up weak economic growth and avoid politically dangerous job losses.

"Better-than-expected trade data out of China today reflects both an uptick in global demand as well as the continued strength of the domestic economy," said Julian Evans-Pritchard of Capital Economics in a report.

Growth in the world's second-largest economy held steady at 6.7 percent over a year earlier in the quarter ending in September, shored up by twin booms in credit and real estate sales. Forecasters expect growth to weaken as regulators tighten lending controls and try to cool housing costs.

China's global trade surplus was $44.6 billion, while its surplus with the United States was $23.1 billion, a figure that might help to fuel pressure for trade controls under U.S. President-elect Donald Trump, who has threatened to raise tariffs on Chinese goods.

"We remain cautious on the export outlook, given the still unconvincing global demand recovery and policy uncertainty in the U.S. after Mr. Trump's election win," Louis Kuijs of Oxford Economics said in a report.

November's trade gains were even stronger when measured in China's currency, which has weakened against the dollar. In yuan terms, exports rose 5.9 percent from a year earlier while imports jumped 13 percent.

Still, despite the latest improvement, exports for the first 11 months of the 2016 are down 7.5 percent from a year ago. In 2015, exports fell 2.8 percent for the full year.

"The medium-term outlook for Chinese trade remains challenging," said Evans-Pritchard. "While global demand has recovered somewhat recently, lower trend growth in many developed and emerging economies means that further upside is probably limited."

© 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.