Chinese imports and exports both fell in November, official data showed Tuesday, the latest poor figures from the world’s second-largest economy.
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Imports in contracted 5.6% year-on-year in November, from a 16.0% drop in October.
Data released by the China Customs Bureau showed imports fell at an annual rate of 5.6 per cent in November, far better than the double digit declines which had been predicted. That compared to the 3.6 percent fall in October.
The overall trade surplus was 343.1 billion yuan ($A74 billion).
With sluggish trade combining with slowing residential construction, policy makers may need to keep their foot on the gas even after six interest rate cuts and expedited fiscal spending.
Capital Economics’ China economist Julian Evans-Pritchard said although the exports data were disappointing, suggesting foreign demand remains subdued, a recovery in imports hints at a policy driven pick-up in domestic demand.
China, which imports roughly 60 percent of the crude oil it processes, has been taking advantage of oil prices that have more than halved from last year’s peak to fill strategic reserves.
China increased its volume of imported iron ore, crude oil and agricultural products while reducing those of coal and steel in the first eleven months from a year earlier, the customs administration said on its website.
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China is widely expected to post its slowest economic growth in a quarter of a century this year as activity is weighed down by weak demand at home and overseas, factory overcapacity, high debt levels and cooling investment.
