Chinese exports rose in November for the first time in seven months, officials said Thursday, as the country navigates a troubled recovery from the Covid-19 pandemic.
Overseas shipments edged up 0.5 percent on-year to $291 billion, the General Administration of Customs (GAC) said, marking their first increase since April, reports BSS.
The figure was much better than the 0.3 percent contraction forecast by analysts in a Bloomberg poll.
However, imports slipped back into contraction, falling 0.6 percent to $224 billion, the GAC said.
Chinese exports — long a key growth driver — have largely been in decline since last October except for a short-lived rebound in March and April.
They slumped 6.4 percent in October, faring far worse than analysts’ predictions.
The world’s second-largest economy expanded a moderate 4.9 percent in the third quarter, slightly less than Beijing’s five percent target, which is one of the lowest in years.
Officials have struggled to sustain a recovery from the impact of the Covid-19 pandemic, even after removing draconian containment measures at the end of 2022.
Exports have been hit by weak global demand, while a debt-fuelled property crisis and low consumption have caused headaches at home.
Consumer prices shrank 0.2 percent in October, marking a return to deflation following a modest rebound from the summer.
