China’s exports drop 8.7% year-on-year in November, bigger than forecast

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China’s exports dropped for the second consecutive month in November, influenced by the cooling of global demand, according to official data released on Wednesday (7).

Research by the Chinese customs agency shows that exports from the second largest economy in the world suffered a drop of 8.7% in November compared to the same month last year, after falling 0.3% in the annual comparison of October.

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The result was much worse than expected by economists consulted by the The Wall Street Journalwhich had forecast a 2% fall in November.

Also in the annual comparison, Chinese imports had a reduction of 10.6% in November, much greater than the decline of 0.7% observed in October and the 4% loss projected in the survey of the WSJ🇧🇷

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In November, China accumulated a trade surplus of US$ 69.84 billion, less than the surplus of US$ 85.15 billion in October and below the consensus of economists, of US$ 78.05 billion.

Source: CNN Brasil

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Suzanne

A journalist with over 7 years of experience in the news industry, currently working at World Stock Market as an author for the Entertainment section and also contributing to the Economics or finance section on a part-time basis. Has a passion for Entertainment and fashion topics, and has put in a lot of research and effort to provide accurate information to readers.

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China’s exports drop 8.7% year-on-year in November, bigger than forecast

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