China Oct exports rise 6.9% y-o-y, miss forecast; imports up 17.2%
[BEIJING] China's October exports lagged market expectations, rising 6.9 per cent from a year earlier while imports beat forecasts, growing 17.2 per cent, official data showed on Wednesday.
That left the country with a trade surplus of US$38.17 billion for the month, according to a Reuters calculation based on official data.
Analysts polled by Reuters had expected October shipments from the world's largest exporter to have risen 7.2 per cent, slower than 8.1 per cent in the previous month.
Imports had been expected to rise 16.0 per cent, softening from an 18.7 per cent gain seen in September.
Analysts had forecast China's trade surplus to have widened to US$39.5 billion in October from September's US$28.61 billion.
After several lean years, China's trade performance has rebounded this year thanks to strong demand at home and abroad.
While exports are contributing to China's economic growth once again, global investors have been more focused on its strong appetite for industrial commodities such as iron ore and coal, which is boosting resources prices worldwide.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Bank of Japan’s Ueda says ‘very likely’ to hike rates if inflation keeps rising
Colombian fund managers eye US$750 million fee bonanza after senators tweak pension bill
Fed survey cites inflation, US election as key financial stability risks
Oil prices steady after Iran plays down reported Israeli attack
G7 pledges swift aid for Ukraine, seeks to calm Middle East
H5N1 strain of bird flu found in milk: WHO