China: Trade surplus widens as exports continue to grow at buoyant pace
November 11, 2010
In October, exports added 22.9% over the same month last year to reach USD 136.0 billion. The figure came in below the 25.1% expansion in September but was broadly in line with market expectations. The reading represented the fifth consecutive month of slowing export growth. Meanwhile, imports grew 25.4% over October 2009 (September: +24.1% year-on-year) to reach USD 108.8 billion. As a result, the trade surplus widened from USD 16.9 billion in September to USD 27.1 billion in October. Exports again surpassed the pre-crisis peak of USD 408.9 billion (moving 3-month sum) reached in September 2008, leaving the trough of USD 245.6 billion from March wide behind. Consensus Forecast panellists estimate exports to grow 26.9% this year and 14.4% in 2011.