Link Securities | According to data from the General Administration of Customs, China’s trade surplus reached $90.07 billion in October, lower than the $95.6 billion expected by the consensus of analysts and the $95.72 billion recorded in the same month last year. This is the lowest trade surplus since February, as exports fell unexpectedly while imports increased.
Specifically, exports fell 1.1% year-on-year, compared to the expected 3% increase, reversing September’s 8.3% increase, due to limited foreign orders after months of anticipation to overcome US tariffs. The Golden Week holidays, coupled with a high base effect from last year, also contributed to the decline.
Meanwhile, imports rebounded by 1%, below the market forecast of 3.2%, and also well below September’s 7.4% increase, marking the weakest increase in imports since May, when purchases fell by 3.4%.
The trade surplus with the United States increased to $24.76 billion in October, from $22.82 billion in September.
In year-on-year terms, China recorded a total trade surplus of $964.8 billion, with exports increasing by 5.3%, while imports decreased by 0.9%.
