China’s imports and exports fell more than expected in September
October 14, 2019 @ 11:12 +03:00
China’s import and export data for September came in worse than expected amid the country’s ongoing trade friction with the U.S., Reuters reported on Monday, citing the Chinese customs. In U.S. dollar terms, China’s exports fell 3.2% in September from a year ago, while imports dropped 8.5% during the same period, according to Reuters. The country’s total trade balance in September was $39.65 billion, Reuters said.
Economists polled by Reuters had expected Chinese exports denominated in the U.S. dollar to fall by 3% and imports to decline by 5.2% in September, compared to a year ago. The country’s overall trade surplus for last month was forecast to be $33.3 billion, according to the Reuters poll. In August, China’s exports in U.S. dollars unexpectedly fell by 1% year-over-year — the biggest fall since June — as shipments to the U.S. slowed down sharply. Chinese imports, meanwhile, dropped 5.6% in the same period. That brought its trade surplus to $34.83 billion, according to Chinese customs data.
In yuan terms, China’s exports in September was 0.7% lower from a year ago, while imports dropped 6.2% during the same period, according to Reuters. The Chinese economy — the second largest in the world — is growing at a slower pace amid the protracted trade battle between Beijing and Washington. Officials from both countries met in Washington last week to discuss trade, and President Donald Trump said the U.S. has come to a “very substantial phase one deal” with China.
China’s imports and exports fell more than expected in September, CNBC, Oct 14