KURE - China's exports and imports fell 6.2% in September amid weak global demand

2023-10-13 01:44:32 ET

• China's exports and imports decreased in September compared to the same month last year, although they decreased at a more moderate rate  amid persistently weak demand from home and abroad.

• Exports from China shrank 6.2% y/y to $299.13 billion in September 2023, following an 8.8% drop in the previous month, and better than forecasts of a 7.6% fall.

• This marked the fifth straight month of decline in exports, amid a gradual stabilization in the economy boosted by a series of policy support measures.

• Imports to China shrank 6.2% y/y to $221.4 billion in September 2023, slowing from a 7.3% fall a month earlier and compared with market consensus of a 6.0% decline.

• This marked the eighth time of decrease in purchases so far this year but the softest drop since May following multiple efforts from Beijing to spur domestic demand.

• China's trade surplus narrowed to $77.71 billion in September 2023 from $82.72 billion in the same period a year earlier, but exceeding market forecasts of $70 billion, with exports and imports declining at the same pace.

• The trade surplus with the United States widened to $33.2 billion in September from $33.06 billion in August.

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• Currency: ( CNY:USD )

• More on China economy:

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• China sovereign wealth fund raises stake in 'Big Four' banks

• Fresh stimulus from China to bolster crisis-hit property sector

• China's state banks set to cut mortgage rates and deposit rates this week - report
• China considers boosting deficit to stimulate economic growth - report

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