China’s exports bounced back in November after dipping the month prior, according to multiple media outlets. Increased shipments to non-US markets and improved trade sentiment following high-level talks between Beijing and Washington were behind the surge, according to experts.
Outbound shipments rose 5.9 percent year on year to US$330.35 billion, customs data released on Monday showed. The increase reversed an October contraction of 1.1 percent and beat a 3.8 percent Reuters poll forecast. Imports reached US$218.67 billion, up 1.9 percent year on year, accelerating slightly from October but falling short of expectations.
The stronger export performance lifted China’s trade surplus to US$111.68 billion in November, up from US$90.07 billion a month earlier – also topping market forecasts. For the first 11 months of the year, China’s cumulative trade surplus exceeded US$1 trillion for the first time.
[See more: Foreign investors are flocking to Guangdong]
Exports to Australia jumped 35.8 percent year-on-year in November, while shipments to the European Union and Southeast Asia grew 14.8 percent and 8.2 percent, respectively.
Dan Wang, China director at Eurasia Group, noted that the increases were helped by “Chinese companies going global.” He also said shortages had led to a price hike in lower-grade chips and other electronics.
Chinese shipments to the US, by contrast, fell nearly 30 percent year-on-year despite a limited tariff truce announced late October. The average US tariff on Chinese goods remains high at 47.5 percent, above the 40 percent threshold economists say erodes profit margins for exporters.
[See more: Xi-Trump summit yields results in South Korea]
Rare earth exports were up 26.5 percent compared with October, following President Xi Jinping’s promise to smooth their flow out of China.
Imports’ slower-than-expected growth reflected lingering weakness in domestic demand, weighed down by a prolonged property sector downturn and subdued industrial activity, observers said.
In yuan terms, China’s total goods imports and exports rose 4.1 percent year on year to 3.9 trillion yuan in November, bringing the total for the first 11 months of 2025 to 41.21 trillion yuan, up 3.6 percent.
