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China's trade surplus surged to USD 97.44 billion in November 2024 from USD 69.45 billion in the same period a year earlier, surpassing expectations of USD 95 billion. It was the largest trade surplus since June, as exports grew while imports fell. Sales rose 6.7% yoy, below forecasts of 8.5%, easing from a 12.7% jump in October, but marking the largest amount in 26 months, as manufacturers front-loaded orders in anticipation of further tariffs from the incoming US administration. Meanwhile, imports unexpectedly shrank 3.9%, following a 2.3% fall in October and missing estimates of a 0.3% rise due to weak domestic demand. The trade surplus with the US widened to USD 34.9 billion in November from USD 33.5 billion in October. For the 1st eleven months of 2024, the trade surplus was at USD 884.7 billion, with exports rising 5.4% to USD 3.24 trillion while imports grew at a softer 1.2% to USD 2.36 trillion. During the period, the trade surplus with the US stood at USD 326.8 billion.