China's October export decline slows, imports slide for sixth monthBusiness | 8 Nov 2019 2:35 pm
China’s exports declined less than expected in October as optimism improved about an interim trade deal with the U.S., while imports contracted for a sixth straight month, Bloomberg reports.
Exports decreased by 0.9 percent in US dollar terms in October from a year earlier, while imports dropped by 6.4 percent, the customs administration said today.
That left a trade surplus of US$42.81 billion for the month.
The improvement in exports will provide some relief to companies, which are being squeezed by falling profits and weak global and domestic demand. Falling imports indicate that domestic demand is still subdued.
China’s trade surplus with the U.S. was US$26.42 billion in October; exports to the U.S. are now down by 11.3 percent in dollar terms in the year to date from the same period in 2018.
“There are some signs of stabilization for exporters. And with the possible rollback of tariffs, next year is very likely to stage a recovery for exports,”said Gai Xinzhe, a senior analyst at Sino-Ocean Capital in Beijing.