Surprising rise in Chinese exports in November
The weakening economy and inflation in Europe and North America in particular had led to a drop in demand for Chinese goods. According to the figures, this remained the case in November: exports to the USA were 13.8 percent below the previous year's level, while exports to Europe were 11 percent lower. On the other hand, exports to Russia rose by 50.2 percent.
In addition to the economic situation in Western customer countries, geopolitical tensions with the USA are also having an impact on Chinese foreign trade. The EU in particular is also trying to reduce its dependence on China or diversify its supply chains.
"Despite an improvement on the export front, it is not certain that exports will contribute (significantly) to growth next year," warned economist Zhiwei Zhang from Pinpoint Asset Management. "China needs to rely on domestic demand as the main driver."
However, Chinese imports fell again in November. Exports had fallen for eleven months in a row before rising in October. At minus 0.6 percent, the downturn now continued, which is seen as a sign of the weak phase for both domestic consumption and Chinese industry.
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Source: www.stern.de
