World News | China's Exports Slow, Imports Decline, in November Falling Below Forecasts
Get latest articles and stories on World at LatestLY. China's exports slowed in November and its imports declined, falling below forecasts and underscoring potential weakness in trade at a time when its leaders are striving to boost the economy after the shocks of the COVID-19 pandemic.
Hong Kong, Dec 10 (AP) China's exports slowed in November and its imports declined, falling below forecasts and underscoring potential weakness in trade at a time when its leaders are striving to boost the economy after the shocks of the COVID-19 pandemic.
Customs data Tuesday showed exports grew 6.7 per cent from a year earlier, down from a 12.7 per cent increase in October. Analysts had estimated that exports had risen more than 8 per cent.
Imports fell 3.9 per cent from a year earlier, reflecting weak demand from industries and consumers.
With exports outpacing imports, China's trade surplus rose to USD 97.4 billion.
The report came a day after Beijing pledged to loosen monetary policy and provide more support for the world's No. 2 economy.
US President-elect Donald Trump has threatened to slap tariffs of 60% or more on imports of Chinese goods, complicating Beijing's efforts by threatening an area of the economy that has performed relatively well while the property sector remains in the doldrums and consumer spending remains fragile. (AP)
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)