China’s exports up 4.7 pct in Nov, but imports drop

China’s exports rose 4.7 percent year-on-year to US$211.7 billion in November, the General Administration of Customs said on Monday. Imports stood at US$157.2 billion, down 6.7 percent from a year earlier, the biggest drop since March.

That left the country with a record trade surplus of US$54.5 billion for November, up 61.4 percent from a year ago, mainly due to the slump in oil prices in the international market.

Total exports and imports in November amounted to US$368.9 billion, down 0.5 percent year-on-year.

The growth rate for exports in November decelerated compared to October’s 11.6 percent and 15.3 percent in September, according to official data.

The General Administration of Customs expects exports growth to face “certain” pressure at end-2014 to early 2015, according to a statement on its website.

In the first 11 months of the year, China’s trade hit US$3.9 trillion, up 3.4 percent from a year ago. The country had a trade surplus of US$332.5 billion during the January-November period, up 42.2 percent year-on-year.

“Imports and exports in the first 11 months have both recorded steady growth,” the office said in a statement.