Categories: Market Overview

China’s imports and exports fell more than expected in September

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
The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

Share
Published by
The FxPro News Team

Recent Posts

USDJPY Wave Analysis 26 April 2024

- USDJPY broke key resistance level 155.00 - Likely to rise to resistance level 160.00…

17 hours ago

Ebay Wave Analysis 26 April 2024

- Ebay reversed from support level 49.35 - Likely to rise to resistance level 52.55…

17 hours ago

False Alert with Yen Interventions?

Even though the Bank of Japan left the key rate and parameters of the QE…

1 day ago

Cooler Bitcoin

Market picture  Market Dynamics: The cryptocurrency market stabilised, losing just 0.1% of capitalisation and dropping to…

1 day ago

GBPCAD Wave Analysis 25 April 2024

- GBPCAD reversed from key support level 1.6910 - Likely to rise to resistance level…

2 days ago

GBPAUD Wave Analysis 25 April 2024

- GBPAUD reversed from support level 1.9135 - Likely to rise to resistance level 1.9360…

2 days ago

This website uses cookies