China's Export Surge: Beating Forecasts Beyond U.S. Tariffs

China's exports increased 5.9% in November, surpassing expectations despite U.S. tariffs. This growth, driven by higher shipments to non-U.S. markets, highlights China's strengthening trade ties globally. Imports also rose modestly. However, exports to the U.S. dropped 29%, indicating the impact of reduced access to this crucial market.

China's export performance in November defied predictions, as shipments grew by 5.9% compared to the previous year, significantly outpacing the 3.8% rise anticipated by analysts. This uptick was fueled by increased trade with markets outside the U.S., as American tariffs continue to challenge Chinese manufacturers.

Import activity showed modest improvement, with a 1.9% rise against October's 1.0% gain, though still short of the 3.0% forecast by economists. "We've seen no progress in China's direct exports to the U.S.," commented Economist Intelligence Unit's Xu Tianchen, noting stronger performance in European, African, and Latin American markets.

November's data reveals a notable 29% drop in shipments to the U.S. year-on-year, despite trade talks between President Donald Trump and President Xi Jinping. Analysts estimate that the reduction in U.S. market access clipped China's export growth by about 2 percentage points, impacting GDP by approximately 0.3%.