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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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