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BEIJING (MNI) - China's General Administration of Customs released October
trade data on Wednesday:
Exports rose 6.9% year-on-year in October in U.S. dollar terms, lower than
MNI's survey median forecast for a 7.1% y/y gain and below the growth rate of
8.1% in September.
Imports rose 17.2% year-on-year in October in U.S. dollar terms, higher
than the MNI survey median forecast for a 16.1% y/y gain but below the 18.6%
rise in September. Imports rose for the twelfth month in a row, with the growth
rate accelerating in each of the most recent four months.
China posted a $38.17 billion trade surplus in October, slightly lower than
the MNI survey median forecast for a $38.90 billion surplus but above
September's $28.61 billion surplus.
In yuan terms, the trade balance was in surplus by CNY254.47 billion,
compared with the CNY193.90 billion surplus in September.
The trade balance in the first ten months of the year amounted to $334.77
billion, below the $426.99 billion surplus in the same period last year, with
exports rising 7.4% y/y and imports up 17.2% y/y so far this year.
--MNI BEIJING Bureau; +1 202-371-2121; email: email@example.com
--MNI Beijing Bureau; +86 (10) 8532 5998; email: firstname.lastname@example.org