China's Exports Drop in November

Date : 12/08/2019 @ 4:25AM
Source : Dow Jones News

China's Exports Drop in November

BEIJING--China's exports unexpectedly dropped in November amid market jitters caused by uncertainty in trade talks between the world's two largest economies.

Chinese exports fell 1.1% last month from a year earlier, extending October's 0.9% decline, data from the General Administration of Customs showed Sunday. A Wall Street Journal poll of economists had expected a 1% growth.

Chinese imports, however, rose for the first time in seven months. Imports edged up 0.3% on year in November, reversing October's 6.4% drop, the customs data showed. Economists had forecast imports to stay flat last month.

The country's overall trade surplus stood at $38.73 billion in November, smaller than October's $42.81 billion surplus and short of the $46.45 billion surplus expected.

Recent strains between China and the U.S. had spooked investors and stoked concerns about the global economic outlook. President Trump's top economic adviser said Friday that there are "no arbitrary deadlines" for completing a limited trade deal with China ahead of a new set of tariffs planned for this month.

China's Commerce Ministry said Thursday that China's trade negotiations with the U.S. remained on track, offering official reassurance after tensions flared between the world's two biggest economies over human-rights issues in China.

--Liyan Qi and Bingyan Wang contributed to this article.

 

(END) Dow Jones Newswires

December 07, 2019 23:10 ET (04:10 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.


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