Overview
- November exports rose 5.9% year over year to $330.3 billion, with imports up 1.9%, pushing the 11‑month surplus to about $1.08 trillion and delivering an estimated $112 billion monthly gap.
- Shipments to the United States fell roughly 29% in November, the eighth consecutive double‑digit decline, with sales to that market reported at about $33.8 billion for the month.
- Exporters expanded sales to alternative destinations, including a 15% jump to the European Union in November, alongside increases to Southeast Asia, Africa, Latin America and Australia.
- Manufacturing activity contracted for an eighth straight month in November, highlighting soft domestic demand despite resilient external sales.
- A one‑year U.S.–China commercial truce announced in late October with tariff reductions and eased rare‑earth controls has not yet translated into a rebound in bilateral trade, as European leaders flag growing imbalances.