Chinese exports rose for the first time in months. Compared to the same month last year, China’s foreign trade recorded a 0.5 percent increase in exports in November, the Chinese customs authority announced on Thursday.
Imports, on the other hand, fell by 0.6 percent. What was surprising was the decline in imports, for which analysts had expected significantly higher growth. Little change was expected for exports.
In October, China’s foreign trade recorded an unexpected increase in imports compared to the same month last year, which was seen as a good sign of increased consumption in the Chinese market. However, exports fell more significantly than experts had predicted.
The world’s second-largest economy has been weakening for months. A revival at the start of the year after the end of strict Corona restrictions quickly subsided. Foreign companies were withdrawing the profits they earned in China to an unprecedented extent, rather than reinvesting them there. Expectations for Chinese industry remain bleak. Less is consumed on the domestic market. In addition, a serious real estate crisis is weighing on economic performance. (sda/dpa)
Soource :Watson
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
