China's monthly trade surplus slightly drops in November

China's monthly trade surplus stood at 23.37 billion U.S. dollars in November, slightly dropping from October's 23.83 billion U.S. dollars, this year's fifth monthly record high, according to the latest Customs figures on Wednesday.

The November figure has brought the aggregate surplus to a new high of 157 billion U.S. dollars in the first 11 months, a year-on-year increase of 66 billion U.S. dollars.

Preliminary customs figures show that the country's foreign trade volume reached 1.593 trillion U.S. dollars in the first 11 months, an increase of 311 billion U.S. dollars, or 24.3 percent over the same period last year.

Exports reached 875 billion U.S. dollars, up 27.5 percent, which was 2.2 percentage points lower than the rise in the same period last year. Imports amounted to 718 billion U.S. dollars, up 20.5 percent, which was 3.4 percentage points higher.

China's exports have continued to surge this year because the world economy has maintained a steady growth and Chinese products have become more competitive on the international market.

Sources with the General Administration of Customs attributed the accelerating imports to the country's rapid economic growth.

The Chinese government has said it did not pursue a huge trade surplus and taken measures to secure a much healthier and sound foreign trade growth.

The country's total trade volume is expected to jump 24 percent to hit 1.758 trillion U.S. dollars this year, with exports reaching 963 billion U.S. dollars, up 27 percent, and imports being 795 billion U.S. dollars, up 20 percent.

Source: Xinhua