BEIJING, Dec. 10 (UPI) -- China's trade surplus shrank substantially in November, the General Administration of Customs office said Saturday.
The surplus dropped from $17 billion in October to $14.5 billion, Marketwatch reported.
Considering the ongoing debt crisis in Europe, "Exports have been holding up better than expected. The implication of that is less policy loosening likely in the near term," said Goldman Sachs economist Yu Song.
From a year earlier, exports rose 13.8 percent, while imports rose 22.1 percent. A month earlier, in October, exports were up 15.9 percent from 12 months earlier, while imports were up 28.7 percent on an annual basis.
Iron ore imports jumped in November to 64.2 million metric tons, the most since January.
From October, iron ore imports rose 29 percent. From November 2010, iron ore imports rose 12 percent.
