China’s trade in services grew 11.1% year-on-year for the first 10 months of 2018, totaling 4.3 trillion yuan ($626 billion), according to the Ministry of Commerce.
The services trade deficit also rose, up 5.8% year-on-year as of October. Exports in services grew by 14.3% to 1.42 trillion yuan, while imports increased 9.6% to 2.88 trillion yuan.
Trade in services includes areas such as financial, legal, and accounting services, as well as tourism and advertising.
While China enjoys a hefty surplus in its trade in goods — a key driver of trade tensions with the U.S. — the country has run a widening deficit in trade in services for years, fueled in part by a surge in overseas spending by Chinese tourists.
Related: 1-10月我国服务进出口总额43022.4亿元 同比增11.1%