ANKARA, Nov 7 (Bernama) -- China’s exports and imports both unexpectedly declined for the first time in more than two years this October.
Exports fell 0.3 per cent year-on-year, the first slump since May 2020, according to data released by the General Administration of Customs on Monday, reported Anadolu Agency.
Weak overseas demand due to surging inflation and recession risks meant the figure badly missed the estimate of 4.3 per cent again after September’s strong growth of 5.7 per cent.
Imports decreased for the first time since August 2020, down 0.7 per cent from a year ago, as China’s stringent coronavirus curbs dented client demand and disrupted factory operations.
Market estimate for imports was a 0.1 per cent annual rise in October.
China’s overall trade surplus stood at US$85.2 billion in October, up from US$84.54 billion a year ago, but well below a forecast of US$95.95 billion.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
