China’s Exports, Imports Fell 6.2% in September as Global Demand Faltered

China’s exports, a significant driver of its economy, declined by 6.2% in September compared to the same month last year, as reported by the General Administration of Customs on Friday.

In August, exports had fallen by 8.8% year-on-year. However, the September figure fared better than the 7.5% decline anticipated by economists in a “The Wall Street Journal survey.”

According to official data, China’s imports also fell by the same percentage, 6.2%, on an annual basis in September, compared to a 7.3% decline in August. Economists had predicted a 5.0% drop in imports.

As a result, China recorded a trade surplus of $77.71 billion in September, surpassing the $68.2 billion surplus in August and expectations of a $71.8 billion surplus.

Source: Valor Econômico

To read the original news report, check: https://valor.globo.com/mundo/noticia/2023/10/13/china-exportaes-recuam-62-pontos-percentuais-em-setembro-em-base-anual-ante-consenso-de-75.ghtml

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