China Trade Surplus Hits $33.8 billion

In November of 2013, Chinese trade surplus widened to 33.8 billion USD, the highest surplus since January of 2009. While exports grew far more strongly than expected on the back of higher demand from the EU and the US, import growth slowed.

Exports jumped 12.7 percent over a year earlier and reached 202.2 billion USD in November. Compared with October, shipments rose 9.1 percent.

While sales to the US, the EU, the ASEAN countries and South Korea rose by an annual 17.7 percent, 18.4 percent and 16.7 percent, respectively, sales to Japan slowed to 2.9 percent. Shipments to Australia (-4.1 percent yoy) and Taiwan (-4.6 percent yoy) shrank over a year earlier.

Imports increased 5.4 percent on the year to 168.4 billion USD and expanded 9.1 percent over October.

In the first 11 months of the year, China's total trade reached 3.8 trillion USD, up 7.7 percent from the same period last year. The government's target for 2013 is 8 percent.

China Trade Surplus Hits $33.8 billion

The Customs Administration | Joana Taborda |
12/8/2013 2:14:47 PM