Chinese exports increased in November at a slower pace than anticipated, while imports continued to decrease, according to official data released on Tuesday.

Outbound shipments rose by 6.7% last month, a significant decline from the 12.7% increase seen in October. For the year-to-date, exports have grown by 5.4% from January to November.

Some analysts believe the recent downturn may be temporary. Huang Zichun of Capital Economics stated, “We expect exports to accelerate again in the coming months, supported by improvements in export competitiveness and exporters anticipating tariffs.”

Others have suggested that the recent surge in exports might be attributed to companies building up stockpiles in response to concerns over a potential trade conflict with the U.S. following Donald Trump’s return to the White House next month.

Meanwhile, imports fell by 3.9%, marking the worst performance in nine months. China’s trade surplus increased to $97.44 billion in November, up from $95.72 billion in October.