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China’s exports see biggest decrease in seven months

by ChemOrbis Editorial Team -
  • 13/10/2016 (04:24)
According to media reports, China’s exports posted the biggest drop since February due to sluggish global demand. According to the customs administration, China’s September exports decreased 10% on a yearly basis in September while imports fell 1.9% from 2015.

Reuters analysts’ expectations for imports had called for an increase of 1% following the increase in August while estimates regarding exports were for a drop of 3% due to the weaker global demand for Asian goods.

The data shows that exports to EU, UK and US decreased by 9.8%, 10.8%, and 8.1%, respectively.

Economists reported that growth in Q3 is likely to remain unchanged at 6.7% for a third consecutive month once final figures are released, according to a survey by Bloomberg.

Meanwhile, the General Administration of Customs shows that China’s trade surplus is $41.99 billion in September, failing to meet analysts’ predictions of $53 billion. The country’s trade surplus was $52.05 billion in August.
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