The dollar value of China’s exports and imports grew in November after two months of contraction and in the face of a rally by the greenback that followed last month’s US presidential election.
Imports grew 6.7 per cent year-on-year to $152.2bn after falling 1.4 per cent the previous month, according to China’s General Administration of Customs, defying a median forecast predicting contraction would worsen to 1.9 per cent.
That growth in the value of inbound shipments came despite a strengthening dollar that drove up costs for importers. Import growth valued in local currency terms reflected that relative weakness with a rise of 13 per cent in November.
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