China’s politically sensitive trade surplus in November was slightly smaller than reported last week but still the second-highest on record, according to data released Monday. Figures from the General Administration of Customs showed a November surplus of US$22.9 billion. Exports in November grew 32.8 percent while imports were up 18.3 percent, according to the General Administration of Customs. The total surplus for the first 11 months of the year totaled US$156.5 billion, according to the customs data. China’s trade surplus for all of 2005 was US$102 billion. The growing chinese surplus contrasts with the huge american deficit and it increases pressure to increase the value of the chinese currency, the yuan.
[Edited by Simon - Changed categories]