Weak demand at home and overseas dented Chinese imports and exports alike last month, reflecting ongoing weakness in the economy. Imports fell 8.7 per cent in US dollar terms in November compared with a year earlier, trimming losses after a 12.6 per cent drop in October, customs data showed on Tuesday. Exports for November fell 6.8 per cent year-on-year, steeper than the 5 per cent fell seen in October. Declining imports reflect both the fall in prices of commodities such as oil, iron ore, and copper, as well as sluggish demand for basic materials amid a slowdown in the Chinese manufacturing and construction sectors. “Commodity prices extended their downward slide in November, but import volumes rebounded. The rise in crude oil imports probably reflects the increase in strategic reserves, while iron ore stockpiles at ports have continued to increase, suggesting that final demand hasn’t improved much,” economists at China International Capital Corp led by Liu Liu wrote on Tuesday. China’s merchandise trade surplus remained elevated at $54bn in November, the fifth-largest surplus on record, although down from an October’s high of $62bn.