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Foreign trade growth slows to 17.6% in November

China.org.cn, December 10, 2011

• China's foreign trade rose 17.6 percent year-on-year to US$334.4 billion in November this year amid weak external demand and a slowing domestic economy, the General Administration of Customs (GAC) announced Saturday.

  China's foreign trade rose 17.6 percent year-on-year to US$334.4 billion in November this year amid weak external demand and a slowing domestic economy, the General Administration of Customs announced on December 9. In this file photo taken on June 1, a ship is unloading ore in a wharf in Guangxi Zhuang Autonomous Region.

  The year-on-year growth in imports and exports in November was 4 percentage points lower than that in October, according to GAC data.

  The November imports rose 22.1 percent year-on-year to US$159.94 billion, while exports increased 13.8 percent from a year earlier to US$174.46 billion, the GAC said in a statement on its website.

  Trade surplus in the month narrowed 34.9 percent from a year earlier to reach US$14.52 billion.

  China is set to break a new record for its foreign trade volume this year. In the first 11 months its imports and exports expanded 23.6 percent year-on-year to US$3.31 trillion, far exceeding the full-year figure of US$2.97 trillion in 2010, according to GAC data.

  In the first 11 months, China's trade surplus shrank by 18.2 percent year-on-year to US$138.4 billion, which came mainly from the country's processing trade in the period.

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