China's exports surge by 21.1% in November

ANKARA

China’s exports have surged by 21.1% in November as importers in the western countries stock up for the new year holidays, state-run media reported on Monday.

The country’s total foreign trade amounted to $460.72 billion in November, an increase of 13.6%, with exports surging by 21.1% and imports up by 4.5%, Global Times quoted China Customs data.

While the November trade surplus reached $75.42 billion, an increase of 102.9%, the country’s trade jumped with its all major trade partners, including ASEAN, the EU, the US, Japan, and South Korea.

According to the Customs authorities, China’s trade value grew by 0.6% to $4.17 trillion during the last 10 months while the November exports were also higher than October.

Analysts called it better-than-expected economic recovery by China’s major trading partners and its status as the world’s factory for holiday and medical goods amid a lingering second wave of COVID-19.

“The November foreign trade figures are in line with a continued rebounding trend seen since summer, as China’s major trading partners, from the Asian countries and the EU to the US, have posted better-than-expected readings in economic growth,” Global Times quoted Chen Fengying, a research fellow at the China Institutes of Contemporary International Relations, as saying.

The resurgence of the COVID-19 pandemic also means more exports of medical supplies, a major driver for exports growth, Chen said.

*Writing by Islamuddin Sajid