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China Oct exports, imports fall more than expected

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China's October exports fell 7.3 per cent from a year earlier, while imports shrank 1.4 per cent, both declining more than expected, official data showed on Tuesday.

[BEIJING] China's October exports fell 7.3 per cent from a year earlier, while imports shrank 1.4 per cent, both declining more than expected, official data showed on Tuesday.

That left the country with a trade surplus of US$49.06 billion for the month, the General Administration of Customs said.

Exports in the first 10 months of the year fell 7.7 per cent from the same period a year earlier, while imports dropped 7.5 per cent.

Analysts polled by Reuters had expected October exports to have fallen 6 per cent from a year earlier, an improvement from a 10 per cent contraction in September but pointing to persistently sluggish global demand.

Imports were expected to have dropped one per cent, after falling 1.9 per cent in September.

The trade surplus was forecast to have expanded to US$51.70 billion in October, versus September's US$41.99 billion.

REUTERS

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