China exports surge in November, beating forecast

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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 percent on-year to $268 billion thanks to strong demand for medical goods and electronics.

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

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

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.

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