China: Exports and imports contract again in October
November 8, 2016
Exports fell 7.3% annually in October, contracting less than the 10.0% drop recorded in September but exceeding the 6.0% decline the markets had expected. October’s fall represented the fifteenth contraction in the last sixteenth months.
Meanwhile, imports contracted 1.4% annually in October. The print followed the 1.9% decrease recorded in September and came in below the 1.0% decrease that market analysts had expected.
As a result of the sharp drop in exports and a moderate contraction in imports, the trade surplus declined from USD 61.3 billion in October 2015 to USD 49.1 billion in October this year. The 12-month moving sum of the trade surplus decreased from September’s USD 585 billion to USD 573 billion in October.