China's trade volume sags, surplus expands

China's total trade volume has dropped on the yearly basis, but trade surplus expanded.

CCTV converted the figures into dollar-terms based on yuan-denominated data, which shows the total trade volume for the first eleven months and November, both plunged on an annual basis. They were dragged by weaker imports, though the November import figure was far better than the double-digit declines of the market expectation a month ago. Analysts say the weakness in imports comes from falling commodity prices. The drop in exports is almost in-line with forecasts.

Trade surplus expanded for the January to November period and the month of November. Geographically, China's exports to the US and ASEAN were bucking a downward trend. But it sold fewer products and services to the EU and Japan from a year ago. For imports, China bought fewer goods and services from all major trade partners during the 11-month period.

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