China: Exports drop at fastest pace in seven months in September
October 13, 2016
Exports fell 10.0% annually in September, contracting more than both the 2.8% drop recorded in August and the 3.3% decline the markets had expected. September’s fall represented the sharpest decline since February.
Meanwhile, imports declined 1.9% annually in September, contrasting both the 1.5% expansion recorded in August and the 0.6% increase that market analysts had expected.
As a result of the sharp drop in exports, the trade surplus declined from USD 59.6 billion in September 2015 to USD 42.0 billion in September this year. The 12-month moving sum of the trade surplus decreased from August’s USD 602 billion to USD 585 billion in September.