China’s exports rose in November at their fastest pace in almost three years, official figures showed Monday, boosted by a pick-up in demand in key markets.

Overseas shipments grew 21.1 per cent on-year to $268 billion thanks to strong demand for medical goods and electronics.

The figures — the best since February 2018 — surpassed the 12 per cent tipped in a Bloomberg poll of analysts and was much better than the 11.4 per cent seen in October. However, imports expanded 4.5 per cent, weaker than the 7.0 per cent estimated and slightly worse than the previous month.

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In the first 11 months of the year, customs figures showed exports of textiles, including masks, surged 33 per cent.

The data also showed China posted a surplus with the rest of the world of $75.42 billion in November, up from $58.44 billion in October and the largest on record dating back to 1990, according to Bloomberg News.

[AFP]

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