APAC Daily Chart Book
December 18, 2024
China
The finalized trade balance posted a record surplus of USD 959 billion in November on a 12-month rolling sum basis. Exports rose 6.7% y/y, while imports fell 3.9% y/y. The rising trade surplus is likely to attract a protectionist backlash, not least on the part of the US and the incoming Trump administration. China’s trade surplus with the US was USD 354 billion, with exports to the US rising 8% y/y, outpeforming exports to the ROW including the US. Imports from the US fell 11.2%, which will have US policymakers asking hard questions about market access to China.
World
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