China exports surge with record annual trade surplus

When we last reported on Chinese trade, the numbers showed a strong performance for September. Two months later, we see more growth.

China shrugged off disappointing October exports of $305.4 billion to record November exports of $330.3 billion, according to data released by China’s General Administration of Customs. That was a 5.9% rise over October and exceeded analysts’ expectations for the month. More importantly, China’s aggregate trade balance topped a $1 trillion surplus for the first time and in 11 months, broking the record surplus for all of 2024. November’s surplus of $111.68 billion represented an annualized run rate of $1.34 trillion.