China’s November exports accelerated but import growth slumped in a sign the recovery of the world’s second-largest economy might be slowing.
Exports surged 12.7 per cent over a year earlier to $202.2 billion (HK$1.57 trillion), up from October’s 5.6 per cent expansion, trade data showed Sunday.
Imports rose 5.3 per cent to $168.4 billion, but that growth was down from the previous month’s 7.6 per cent.
China’s economic growth rebounded in the three months ending in September to 7.8 per cent after plunging to a two-decade low the previous quarter. But forecasters have warned that was likely to be temporary and growth would fall back late this year or early next year.
The rebound was driven by a government mini-stimulus based on higher spending on building railways and other public works.
Chinese leaders are trying to guide the economy to slower, more sustainable growth based on domestic consumption instead of exports and investment. An unexpectedly sharp decline raised the risk of politically volatile job losses and prompted them to reverse course temporarily to prop up growth.