China's Exports Grow Less Than Forecast; Imports Growth Tops Expectations
13 Oktober 2017 - 05:07AM
RTTF2
China's exports expanded at a slower than expected pace but
remained robust in September. At the same time, imports growth
exceeded expectations on improving domestic demand.
Exports climbed 8.1 percent year-over-year in September, data
from the General Administration of Customs showed Friday.
Economists had forecast exports to climb 10.0 percent, following
August's 5.5 percent increase.
At the same time, imports surged 18.7 percent in September from
a year ago, faster than the expected growth of 15.0 percent.
As result, the trade surplus totaled $28.47 billion in September
versus the expected level of $38.0 billion.
In renminbi terms, exports advanced 9 percent and imports grew
19.5 percent in September. Economists had forecast 11.5 percent
rise in shipments and 16.5 percent increase in imports.
Looking ahead, Julian Evans-Pritchard, an economist at Capital
Economics, said he expects any further weakening of exports to
remain mild given the relatively upbeat outlook for growth in
China's main trading partners.
In contrast, imports may eventually face a sharper slowdown as
support from loose fiscal policy reverses after the Party Congress,
with local governments forced to pair back spending in the final
months of the year in order to meet budget targets, the economist
added.
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