China: Trade data in October continue to disappoint
November 9, 2015
In October, exports fell 6.9% over the same month last year, which followed the 3.7% decline tallied in September. October’s contraction, which was below the 3.0% decrease that market analysts had expected, represented a fourth consecutive month of decline. Imports fell 18.8% annually in October, which followed the 20.4% decline tallied in September. October’s plunge, which was worse than the 16.0% drop that market analysts had expected, marked the 12th 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 61.6 billion in October (September: USD 60.2 billion), which was higher than the USD 45.6 billion in the same month last year. The 12-month moving sum of the trade surplus rose from USD 577 billion in September to USD 593 billion in October, hitting an all-time high.