China's export growth slowed sharply in November while imports unexpectedly contracted, putting pressure on policy makers to release further stimulus measures.
China's exports rose 4.7 percent year on year to $211.66 billion in November, the General Administration of Customs (GAC) said on December 8. The figure sharply contrasts with October's 11.6 percent and 15.3 percent in September.
Imports stood at $157.19 billion, down 6.7 percent year on year, the biggest drop since March.
Total exports and imports in November amounted to $368.85 billion, down 0.5 percent year on year with a record-high trade surplus of $54.47 billion, expanding 61.4 percent.
In the first 11 months of the year, China's imports and exports hit $3.9 trillion, up 3.4 percent, resulting in a record trade surplus of $332.5 billion during the January-November period, up 42.2 percent year on year.
The sharp slowdown in export growth threatened China's growth this year, as both domestic and external demand weakened, ANZ economist Liu Ligang said in a report in response to the data. |