MNI BRIEF: China Nov Exports Slows, Imports Slide

China's exports grew 6.7% y/y to USD312.3 billion in November, below the 8.9% y/y consensus and last month's 12.7% y/y increase, according to data released by China Customs on Tuesday.

Imports, which amounted to USD214.9 billion, registered a 3.9% y/y drop, dipping further from the consensus of a 0.9% y/y gain and last month's 2.3% y/y decrease. Imports increased 1.2% y/y over the Jan-Nov period, while exports increased 5.4%. China’s trade surplus in the first 11 months hit USD884.67 billion, with November contributing USD97.44 billion.

Exports and imports with ASEAN, the EU and the U.S. drove the total trade volume by 16.6%, 11.9% and 11.3% respectively.