Business News Asia
The China Customs Administration (GAC) reported an 8.7% year-on-year decline in exports in November, following a 0.3% drop in October. China’s exports were affected by slowing global demand and domestic COVID measures.
Imports fell 10.6% in November, following a 0.7% drop in October, as China’s imports came under pressure from falling domestic consumption due to measures to combat the spread of COVID-19 and the collapse of the real estate market.
China recorded a trade surplus of $69.84 billion in November, down from a surplus of $85.15 billion in October.