China's exports grow faster

Date : 2013-12-10  | From : Xinhua

China's exports outperformed market expectations in November due to improved data in the United States and the European Union.

Exports went up 12.7 percent year on year in November and imports gained 5.3 percent year on year, according to the General Administration of Customs on Sunday.

November's export growth is above the market expectation of 7.0 percent, indicating improved data in the United States and the European Union, said Liu Ligang, chief Greater China economist at ANZ Banking Group.

This is the second month of year-on-year rises in exports, reversing the decline in October, up 5.6 percent from a year earlier to 185.4 billion U.S. dollars.

Foreign trade stood at 370.6 billion U.S. dollars in November, including 202.2 billion U.S. dollars of exports and 168.4 billion U.S. dollars of imports.

Trade surplus hit 33.8 billion U.S. dollars in November, the second month for China to report more than 30 billion U.S. dollars of trade surplus, Liu said.

In the total eleven months, foreign trade gained 7.7 percent year on year to 3.8 trillion U.S. dollars.

China targeted foreign trade growth of 8 percent year on year in 2013. The target is higher than last year's real growth but below the 10 percent target set for last year.