Bankinter | China’s trade balance deteriorates in September, although due to higher imports. The trade balance is $90.45 billion versus $98.05 billion estimated and $102.3 billion previously. Exports are up 8.3% year-on-year against 6.6% expected and 4.4% previously. Imports are up 7.4% year-on-year against 1.8% expected and 1.3% previously.
Analysis team’s view: Although the trade balance is apparently weak, having fallen more than expected, the truth is that this is due to an improvement in imports, which implies greater domestic demand. On the other hand, exports are increasing more than expected. Despite this, the Chinese stock market was down 1.2% yesterday and the Hong Kong stock market was down 2.8%, following Friday’s declines in the US and Europe.
