China: Exports decline in September for third consecutive month
October 13, 2015
In September, exports fell 3.7% over the same month last year, which followed the 5.5% decline tallied in August. September’s contraction, which was less than the 6.0% decrease that market analysts had expected, represented a third consecutive month of decline. Imports plunged 20.4% annually in September, which followed the 13.8% decline tallied in August. September's plunge, which was worse than the 16.0% drop that market analysts had expected, marked the eleventh straight month of contraction, adding to concerns of slowing domestic demand in China.
Due to the sharp drop in imports, the trade surplus totaled USD 60.3 billion in September (August: USD 60.2 billion), which was higher than the USD 31.0 billion in the same month last year. The 12-month moving sum of the trade surplus rose from USD 547 billion in August to USD 576 billion in September, hitting an all-time high.