China’s exports in November edged higher for the first time in 7 months, while imports fell
HONG KONG (AP) — China’s exports rose in November, the first increase since April, while imports fell, according to customs data released Thursday.
Exports rose 0.5% from a year earlier to $291.9 billion, a sign that demand may be picking up after months, but imports fell 0.6%, to $223.5 billion, after they climbed 3% in October.
China has been grappling with sluggish foreign trade this year amid slack global demand and a stalled recovery, despite the country’s reopening after its strict COVID-19 controls were lifted late last year.
The trade surplus of $68.4 billion was up 21% compared to October’s $56.5 billion.
Demand for Chinese exports has been weak since the Federal Reserve and central banks in Europe and Asia began raising interest rates last year to cool inflation that was at multi-decade highs.