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Chinese exports soared in November. Exports unexpectedly increased by 21.1 percent compared to the same month last year, as reported by Chinese customs authorities in Beijing on Monday. Imports, on the other hand, fell short of expectations and were up just 4.5 percent, slightly less than the previous month at 4.7 percent. The trade deficit increased sharply by 102.9 percent to US $ 75 billion (€ 61.68 billion)
With a total increase of 13.6 percent, foreign trade is contributing even more than expected to the recovery of the second largest economy. Since the most populous country has had the corona virus under control since the summer and there are only a few infections, economic activities have returned to normal.
More than at least 2 percent
While the rest of the world is in recession, China will be the only major economy to see growth again this year. An increase of 2.0 to 2.2 percent is expected. Leading key indicators suggest that fourth-quarter growth could exceed 5.5 percent. Some Chinese experts even speak of a growth of more than six percent. In the third quarter it was already 4.9 percent.
