China's international trade figures for November 2016 have painted a more optimistic picture of the country's prospects for recovery than was previously expected.
During the month, the Asian superpower was able to increase its exports by 0.1 per cent compared to November 2015, ending a seven-month losing streak. This was attributed to rising global demand and a cheaper yuan aiding foreign purchasing.
Imports, meanwhile, were up by 6.7 per cent, despite predictions of a decline of around 1.3 per cent. This represented the strongest gain since September 2014 and helped to trim the trade surplus to $44.61 billion (€41.36 billion), down from $49.06 billion in October.
Exports and imports both exceeded estimates of all 43 economists surveyed by Bloomberg, with the figures also defying forecasts sourced by Reuters.
Julian Evans-Pritchard, China economist at Capital Economics, said: "Better-than-expected trade data out of China today reflects both an uptick in global demand as well as the continued strength of the domestic economy."
However, the expert also noted that the medium-term outlook for China is likely to remain challenging, as the rate of growth experienced by developed and emerging economies is still fairly weak.
