BEIJING, Dec 7 — 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 per cent on-year to US$291 billion, the General Administration of Customs (GAC) said, marking their first increase since April.
The figure was much better than the 0.3 per cent contraction forecast by analysts in a Bloomberg poll.
However, imports slipped back into contraction, falling 0.6 per cent to US$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 per cent in October, faring far worse than analysts’ predictions.
The world’s second-largest economy expanded a moderate 4.9 per cent in the third quarter, slightly less than Beijing’s five per cent 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 per cent in October, marking a return to deflation following a modest rebound from the summer. — AFP
