China’s October Imports, Exports Fall Less Than Expected
(Bloomberg) — China’s exports declined less than expected in October as optimism rose about an interim trade deal with the U.S., while imports contracted for a sixth straight month.
Exports decreased 0.9% in dollar terms in October from a year earlier, while imports dropped by 6.4%, the customs administration said Friday. That left a trade surplus of $42.81 billion for the month.
The improvement in exports will provide some relief to companies, which are being squeezed by falling profits and weak global and domestic demand. Falling imports indicate that domestic demand is still subdued.
The U.S. and China have agreed to roll back tariffs on each other’s goods in phases as they work toward a deal, both sides said Thursday.
At the same time, the date of the interim deal may be pushed back to December as the two sides wrangle over the details.
“There are some signs of stabilization for exporters. And with the possible rollback of tariffs, next year is very likely to stage a recovery for exports,” said Gai Xinzhe, a senior analyst at Sino-Ocean Capital in Beijing.
China’s trade surplus with the U.S. was $26.42 billion in October.
Economists had forecast that exports would drop by 3.9% while imports would contract by 7.8%.
Contact editor Yang Ge (email@example.com)
May 29 18:23
May 29 18:04
May 29 12:40
May 28 16:02
May 28 12:52
May 28 09:10
May 27 16:43
May 27 13:27
May 27 12:54
May 26 17:38
May 26 17:03
May 26 12:26
May 26 10:44
May 26 03:26
- 1China’s ‘Bat Woman’ Warns Coronavirus Is ‘Just Tip of the Iceberg’
- 2Update: Mass Testing in Wuhan Uncovers Over 200 Asymptomatic Covid-19 Cases
- 3In Depth: Huawei’s Chip Dreams in Crosshairs of Latest U.S. Assault
- 4Premier Sends ‘Powerful’ Signal for China to Join Asia-Pacific’s Largest Trade Pact
- 5Washington Pressures China to Let U.S. Airlines Come Back
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas