China's exports slow, imports decline in November, falling below forecasts

abcnews.go.com:

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 domestic business activity

HONG KONG — 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% from a year earlier, down from a 12.7% increase in October. Analysts had estimated that exports had risen more than 8%.

Imports fell 3.9% from a year earlier, reflecting weak demand from industries and consumers.

With exports outpacing imports, China’s trade surplus rose to $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.

U.S. 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.

Some analysts say that the latest setbacks are likely to be temporary.

“We expect exports to accelerate again in the coming months, supported by gains in export competitiveness and exporters front-running tariffs,” Zichun Huang of Capital Economics said in a note.

“Import volumes declined last month, but they are likely to recover in the short run as accelerated fiscal spending boosts demand for industrial commodities,” she said.

The effects of tariffs will likely only be felt in the middle of 2025, Huang wrote.

Exports