Chine Balance Commerciale

China’s trade surplus topped a record $1 trillion in the first 11 months of the year despite a deepening slump in shipments to the US with exports rising 5.4% while imports shrank 0.6%. In November alone, the surplus reached $112 billion, the third-largest on record and well above expectations, as exports rose more than imports. Exports increased 5.9% yoy, beating forecasts for 3.8% growth and rebounding from a 1.1% fall in October, boosted by a surge in shipments to non-US markets amid governments’ efforts to diversify export destinations since Trump won last November's presidential election and to deepen trade ties with ASEAN and the EU. Meanwhile, shipments to the US slumped by 28.6%, marking the 8th straight month of double-digit declines. Imports rose 1.9%, below expectations for a 2.8% rise but above the 1.0% gain in October. China’s trade surplus with the US fell to USD 23.74 billion in November, down from USD 24.76 billion in October.