MNI: China October Trade Softened But Surplus Expanded

     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: john.carter@mni-news.com

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

[TOPICS: MAQDS$,M$A$$$,M$Q$$$,MT$$$$]