The Chinese trade international surplus in November declined compared to October but registered record highs in exports and imports, according to a release by the General Administration of Customs. China’s surplus decreased to $22.9 billion in November following a surplus of $27.1 billion in October but still managed to surpass economic forecasts expecting a surplus of $21.20 billion.<\/p>\n
October’s surplus had marked the second-highest monthly surplus of the year behind July.<\/p>\n
On an annual basis, the November trade surplus was 15 percent higher compared to the surplus level in November 2009.<\/p>\n
Exports and imports both rose to a record high with exports growing by 34.9 percent to a total of $153.33 billion while imports increased by 37.7 percent to a total of $130.43 billion in November.<\/p>\n
The export and import numbers both rose by much more than expected as economists predicted imports and exports to increase by approximately 24 percent each in November.<\/p>\n
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