China’s foreign trade likely to have recovered further in November

China’s foreign trade is expected to have recovered further in November. According to Societe Generale, foreign trade is expected to have rebounded in both RMB and USD terms. South Korea’s trade data shows an improvement in regional trade growth in November. Real trade data for Japan and Taiwan imply that electronics exports might have lent certain strength to overall exports in the fourth quarter.

Thus, sequential rebounds in both exports and imports are expected, with growth in exports likely to be bigger than the average rate of previous years. Export growth, in terms of RMB, is expected to have turned positive at 2.3 percent year-on-year. Given that import growth accelerated slightly, small rise in the RMB trade surplus to 329.8 billion is expected in November, added Societe Generale.