Beijing — China’s exports and imports fell more than expected in October, adding to doubts about how long a recent pick-up in economic activity can be sustained. October exports fell 7.3% from a year earlier, while imports shrank 1.4%, official data showed on Tuesday, raising the fear that a broader recovery may be faltering. That left the country with a trade surplus of $49.06bn for the month, the General Administration of Customs said, versus forecasts of $51.70bn, and September’s $41.99bn. Analysts polled by Reuters had expected October exports to have fallen 6% from a year earlier, compared with a 10% contraction in September. Imports had been expected to drop 1%, after falling 1.9% in September. China’s exports in the first 10 months of the year fell 7.7% from the same period a year earlier, while imports dropped 7.5%. Exports have dragged on economic growth this year, forcing the government to rely on higher spending and record bank lending to support growth. Trade data for Se...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.