"China's exports rebounded in November after an unexpected contraction the previous month, pushing its trade surplus past $1 trillion for the first time, according to data released Monday. Exports climbed 5.9% from a year earlier in November while imports rose just under 2%. The customs data released on Monday also showed that shipments to the U.S. dropped nearly 29% year-on-year. But as trade with the U.S. weakens, China is diversifying its export markets throughout Southeast Asia, Africa, Europe and Latin America."
"The nearly $1.08 trillion trade surplus for the first 11 months of this year is a record high, surpassing the $992 billion surplus for all of 2024, based on official data compiled by FactSet. A year-long trade truce between China and the U.S. was reached at a meeting between U.S. President Donald Trump and Chinese leader Xi Jinping in late October in South Korea. The U.S. has lowered its tariffs on China, and China has promised to halt its export controls related to rare earths."
China's exports increased 5.9% year-on-year in November while imports rose just under 2%, lifting the trade surplus to nearly $1.08 trillion for the first 11 months, a record high. Shipments to the U.S. fell nearly 29% year-on-year even as exports to other regions including Southeast Asia, Africa, Europe and Latin America expanded. November exports exceeded economists' estimates after a slight October contraction. A year-long U.S.-China trade truce lowered U.S. tariffs and eased rare-earth export controls, which could boost future shipments. Factory activity contracted for an eighth month and leaders emphasized advanced manufacturing and boosting domestic consumption.
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