China’s trade surplus widened to a record in November, as global demand for the country’s goods grew even more robust.
November exports were up 21% from a year earlier, the General Administration of Customs reported Monday, accelerating from October’s 11.4% and beating economists’ 12% forecast. Imports were up 4.5%, slowing slightly from October’s 4.7% and short of the 5.3% expected by economists. The resulting $75.42 billion trade surplus topped the record set in May, when a drop in imports was the major factor.
China’s exports have topped market expectations since the second quarter, when Beijing moved to restart the world’s second-largest economy after lockdowns and Covid-19 outbreaks at the start of the year. During the pandemic, protective gear and work-from-home tech products have served as pillars for China’s overseas trade, helping it gain global market share.