China’s Trade Surplus Tops $1 Trillion After Exports Rebound

China’s annual trade surplus exceeded $1 trillion for the first time despite a deepening plunge in shipments to the US, risking a backlash from markets flooded by goods from the world’s biggest manufacturing nation.

Exports returned to growth in November after an unexpected drop the previous month, rising 5.9% from a year earlier and far outpacing a 1.9% gain in imports, according to data published by China’s General Administration of Customs on Monday. The November surplus came in at $112 billion, the third-largest ever accumulated by China in a single month and far more than forecast by economists.