Home China’s Trade Surplus widened in September on big drop in Imports
FXStreet News

China’s Trade Surplus widened in September on big drop in Imports

China’s Exports unexpectedly dropped in September, but even so, its Trade Surplus expanded, as imports tanked more-than-expected.  

China’s Exports or outbound shipments in the Yuan terms fell by 0.7% year-on-year in September, the official data released a few minutes before press time showed.  

The outbound shipments were forecasted to rise by 1.5%. The Exports had risen by 2.6% in the preceding month.  

Meanwhile, Imports or inbound shipments tanked by 6.2% year-on-year in September. The market was expecting a 2.3% drop following August’s 2.6% slide.  

Hence, Trade Surplus expanded to CNY 280 billion in September from August’s 239.6 billion.  

The slide in Imports indicates a weakening of domestic demand conditions. As a result, fears of a deeper economic slowdown may resurface, leading to risk aversion in the global markets.  

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.