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China trade balance for Nov remains $54.5b: Customs

China trade balance for Nov remains $54.5b: Customs

BEIJING: China trade balance for November recorded at $54.5bn, imports into China remained much lower than expectations and exports not as strong as expected, Customs Agency said.

China expects exports growth to face pressures at the end of 2014 and into early 2015

Fake invoicing at the end of 2013 was rife, which makes the base for measuring 2014 artificially high

Estimate that trend growth for China’s exports is likely in the high single-digits – enough to ” to prevent weakness in domestic real estate from crippling growth, though not good enough to give the economy a real boost”

On the import side, part of the explanation for a shrinking import bill is falling prices with oil prices & iron ore are down shrinking imports overstate the fragility of China’s economy

Looking forward, the outlook for China’s exports appears mixed. Taiwan export orders, which tend to lead the Asia export cycle, showed robust 13.4 percent year-on-year growth in October but China PMI data, on the other hand, shows export orders lackluster