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China Trade Balance Oct: $56.53B (est $82.0B; prevR $77.83B) - Exports (Y/Y): -6.4% (est -3.5%; prev -6.2%) - Imports (Y/Y): 3.0% (est -5.0%)
China Trade Balance Oct: $56.53B (est $82.0B; prevR $77.83B)
— LiveSquawk (@LiveSquawk) November 7, 2023
- Exports (Y/Y): -6.4% (est -3.5%; prev -6.2%)
- Imports (Y/Y): 3.0% (est -5.0%; prevR -6.3%)
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China’s imports surprise with growth in October, but exports fall more than expected
China reported a worse-than-expected drop in exports in October, while imports surprisingly rose for the month from a year ago. China’s customs agency said exports in U.S. dollar terms fell by 6.4% in October from a year ago. That’s worse than the 3.3% drop predicted by a Reuters poll. Imports rose by 3% in U.S. dollar terms in October from a year ago. That’s in contrast to the Reuters’ forecast for a 4.8% drop from a year ago. China’s exports have fallen on a year-on-year basis every month this year starting in May. The last positive print for imports on a year-on-year basis was in September last year. ... (full story)