RBA: Statement by the Reserve Bank Board: Monetary Policy Decision

China’s exports rose in November, amid uncertainty about US president-elect Donald Trump’s trade policies. After posting a strong rebound in October, exports from the world’s second-largest economy grew by 6.7 per cent year on year to US$312.31 billion in November, according to customs data released on Tuesday. The figure was lower than the expected 8.76 per cent increase surveyed by Chinese financial data provider Wind, and fell short of the 12.7 per cent rise recorded in October. The increase likely benefited from the base effect, after exports grew by just 0.5 per cent during the same period last year. Imports, meanwhile, fell by 3.9 per cent from a year earlier in November, compared to the 2.3 per cent decrease in October. This led to a trade surplus of US$97.44 billion in November, compared with US$95.72 billion in October. post: China Trade Balance Nov: $97.44B (est $93.50B; prev $95.72B) - Imports (Y/Y): -3.9% (est 0.9%; prev -2.3%) - Exports (Y/Y): 6.7% (est 8.7%; prev 12.7%) post: CHINA JAN-NOV COPPER CONCS AND ORES IMPORTS UP 2.2% AT 25.6 MLN METRIC TONS - CUSTOMS **CHINA NOV UNWROUGHT COPPER IMPORTS AT 528,000 METRIC TONS - CUSTOMS post: CHINA IMPORTS 4.075 MILLION TONS OF OIL PRODUCTS IN NOVEMBER