Import growth signals accelerating expansion of China’s economy

China’s industrial and supply chains will help withstand growing downward pressure and maintain the upward momentum of exports over the coming months, according to experts, who said robust import growth indicated. signs of accelerated expansion of the Chinese economy. Imports increased about 22% year-on-year (YoY) to reach 15.81 trillion yuan between January and November.

In November alone, exports increased 16.6% year-on-year to 2.090 billion yuan, while imports jumped 26% to 1.630 billion yuan.

On a monthly basis, exports and imports increased 7.6% and 16.6% respectively in November, reversing the 2.1% and 10% declines recorded in October.

China’s industrial and supply chains will help withstand growing downward pressure and maintain the upward momentum of exports over the coming months, according to experts, who said robust import growth indicated. signs of accelerated expansion of the Chinese economy. Imports increased about 22% year-on-year to reach 15.81 trillion yuan between January and November

The trade surplus jumped more than 20 percent year-on-year to reach 3.77 trillion yuan in the 11-month period, according to data from the General Customs Administration (GAC). The country’s foreign trade during the period amounted to 35.390 trillion yuan ($ 5.5 trillion), up 22 percent year-on-year, and more than the 32 trillion yuan recorded overall. from last year.

Exports climbed nearly 22% year-on-year to reach 19.580 billion yuan during the period. The figure was nearly 26% higher than in the same period of 2019, Chinese state media reported.

Fibre2Fashion Information Office (DS)


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