China Exports Imports Fall In September
BEIJING: China's September exports fell 10 percent from a year earlier, far worse than expected, while imports unexpectedly shrank 1.9 percent after picking up in August, suggesting signs of steadying in the world's second-largest economy may be short-lived.
That left the Country with a trade surplus of $41.99 billion for the month, the General Administration of Customs said. The September import reversal raises questions over the strength of the recent recovery in domestic demand, Julian Evans-Pritchard at Capital Economics said in a note after the data.
"The data we have so far suggests that a drop in import volumes of a number of key commodities, including iron ore and copper, are partly responsible," he said. "This could be an early sign that the recent recovery in economic activity is losing momentum, although we would caution against reading too much into a single data point given the volatility of the trade figures."
A rebound in global commodity prices in recent months has helped temper China's long export and import slump, but the Country's foreign trade still faces significant downward pressure, said Shen Danyang, a spokesman for the Ministry of Commerce - China.