China exports and imports both increase

13 Октября, 2017, 14:11 | Author: Leticia Walters
  • MARKET BUZZ: China Markets Higher After Trade Data

BEIJING-China's exports grew for a seventh straight month in September, on continued strength in external demand for goods from the world's second-largest economy.

Imports in dollar-denominated terms grew 18.7% in September from a year earlier, beating analysts' forecasts for a 13.5% expansion and accelerating from 13.3% in August, customs data showed on Friday. The rise beat the poll's forecast for a 15% gain.

Imports for the first three quarters were 3.44 million tonnes, down 9.4 percent on the same period past year, customs said.

In renminbi terms, exports advanced 9% and imports grew 19.5% in September.

"Growth momentum is still quite strong and better than our previous expectations", ANZ senior China economist Betty Wang said.

As result, the trade surplus totaled USD28.47 billion in September versus the expected level of USD38.0 billion.

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The trade surplus narrowed in September to $28.47 billion from almost $42 billion the previous month, falling short of expectations for a $37.3 billion surplus.

But Evans-Pritchard said the figures were skewed because there were more working days last month compared with last year's period, as the almost week-long Mid-Autumn Festival holiday was held in September 2016.

China's imports of North Korean goods between January and September fell 16-point-seven percent year-on-year to stand at some one-and-a-half billion US dollars.

Trade surplus shrank 17.7 percent to 2.03 trillion yuan in the same period.

Authorities are in the midst of a campaign to reduce the risks from a rapid build-up in debt produced by years of credit-fueled stimulus, and sustained trade growth could give policymakers confidence to step up the campaign next year once the leadership reshuffle is out of the way.

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