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China’s Sept imports plunge 17.7% on weakening domestic demand

by ChemOrbis Editorial Team -
  • 13/10/2015 (14:41)
According to data from China’s Customs Administration, the country’s imports plunged 17.7% in yuan-denominated terms from a year earlier in September after declining 14.3% in August. The September import data also indicated the eleventh straight decline while China’s exports showed a moderate loss compared with the previous month. Exports fell 1.1% in yuan terms in September following a decrease of 6.1% in the previous month. Accordingly, China’s trade surplus was reported at CNY376.2 billion ($59.4 billion).

In US dollar terms, imports fell 20.4% from a year earlier while exports slid 3.7%. Bloomberg economists’ expectations called for decreases of 16% and 6% in imports and exports, respectively.

Lower imports were attributed to plunging commodity prices and weakening domestic demand in line with persistent deceleration in the Chinese economy.
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