China September Trade Surplus Eases To 6-Month Low

--Imports Surge; Exports Below Expectations

     BEIJING (MNI) - China's General Administration of Customs released

September trade data on Friday: 

     Exports rose 8.1% year-on-year in September in U.S. dollar terms, lower

than MNI's survey median forecast for a 9.6% y/y gain but above the growth rate

of 5.5% in August. Export growth was the highest in three month.

     Imports rose 18.7% year-on-year in September in U.S. dollar terms, higher

than the MNI survey median forecast for a 14.0% y/y gain and above the 13.3%

rise in August. Imports rose for the 11th month in a row, and the September gain

was the highest since March's 20.3% gain.

     China posted a $28.47 billion trade surplus in September, lower than the

MNI survey median forecast for a $37.30 billion surplus and well below August's

$41.99 billion surplus. It was the lowest level in six months.  

     In yuan terms, exports rose 9% in September to CNY1.33 trillion and imports

increased 19.5% to CNY1.13 trillion, compared with 6.9% and 14.9% gains,

respectively in August. The trade balance was in surplus by CNY193 billion,

shrinking 28% compared with the CNY286.49 billion surplus in August.

     The trade balance in the first three quarters of the year amounted to

$295.58 billion, below the $396.36 billion surplus in the same period last year,

with exports rising 7.5% y/y and imports up 17.3% y/y.

--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: beijing@mni-news.com

--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@marketnews.com

--MNI Beijing Bureau; +86 (10) 8532-5998; email: vince.morkri@marketnews.com

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