China Reports Strong Export Numbers for November


China Reports Strong Export Numbers for November

China has reported strong numbers for November giving strong indication of stable recovery. The second largest economy witnessed 12.7 per cent rise in exports, which were above the expectations of market analysts. Reuters poll had forecast 7.1 percent rise in exports during November.

Imports were higher by 5.3 percent compared on year-on-year basis at $168.4 billion. The trade surplus was at $33.8 billion compared to $31.1 billion on October. The rise in surplus has been the highest in almost four years. Exports to European Union grew by 18.4 percent and for US, the exports registered 17.7 percent rise on yearly basis.

The global demand is picking up and that is a good sign for US and European economy. The labor costs are rising in China and the Chinese currency has also gained compared to USD and Euro. This makes Chinese goods expensive in world markets. Even after higher competition and higher price, the rise in exports is a healthy sign for Chinese economy.

The official figures on manufacturing sector in China point to 19-month high as the manufacturing activity has been on the rise across the country. Imports were lower compared to forecast and also were lower compared to October numbers. Another major Asian economy, India also registered lower current account deficit in the recently announced figures on back of lower imports and higher exports to European Union and Middle East.

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