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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.