China's exports rise 35pc, imports up 38pc in November


CHINA's exports grew by 34.9 per cent year on year in November to US$153.33 billion, while the nation's imports surged by 37.7 per cent to $130.43 billion, according to the General Administration of Customs (GAC).

China's trade surplus declined to $22.89 billion in November, down from $27.1 billion in October, reports Xinhua.

The higher-than-expected export volume was the result of "seasonal factors," Beijing-based Huarong Securities analyst Xiao Bo was quoted as saying in reference to the increase in orders ahead of the festive shopping season overseas.

Mr Xiao forecasts that China's export growth will decrease in early 2011 as imports increase at a steady pace, prompting the nation's trade surplus to shrink further.

China's foreign trade totalled $2.68 trillion in the first 11 months of the year, up 36.3 per cent compared to the same period last year, with the European Union remaining China's largest trade partner. EU-China trade rose by 33.1 per cent in the first 11 months of the year to $433.88 billion.

China's trade with the US grew by 30.2 per cent year on year to $346.89 billion in the January-November period while China-Japan trade rose by 31.7 per cent year on year to $267.79 billion.

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