BEIJING, Dec 10 (Reuters) - China's trade surplus soared to a record $40.1 billion in November, eclipsing the previous record of $35.2 billion in October, as both exports and imports posted surprising declines.
Exports fell 2.2 percent in November from a year earlier, while imports fell 17.9 percent, the customs administration said on its website on Wednesday.
The drop in exports was the largest since April 1999; the decline in imports was the steepest since monthly records kept by bankers began in 1993.
Economists had expected a $32.4 billion surplus based on a 15 percent rise in exports from a year earlier and a 12 percent increase in imports. [ID:nPEK357979]
The surplus for the first 11 months was $256.0 billion.
Trade, in billions of dollars:
Nov Oct Sep Aug Jul Jun May Apr Exp 115.0 128.3 136.4 134.9 136.7 121.5 120.5 118.7 Imp 74.9 93.1 107.1 106.2 111.4 100.2 100.3 102.0 Bal 40.1 35.2 29.3 28.7 25.3 21.4 20.2 16.7
Export and import growth (yr/yr % change):
Nov Oct Sep Aug Jul Jun May Apr Exp -2.2 19.2 21.5 21.1 26.9 17.6 28.1 21.8 Imp -17.9 15.6 21.3 23.1 33.7 31.0 40.0 26.3
Rolling 12-month surplus, in billions of dollars:
Nov Oct Sep Aug Jul Jun May Apr Bal 278.7 265.0 257.3 251.9 248.7 249.1 254.7 256.9 (Reporting by Langi Chiang; Editing by Alan Wheatley and Ken Wills)