2023-10-13 01:44:32 ET
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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.
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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.
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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.
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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.
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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.
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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.
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The trade surplus with the United States widened to $33.2 billion in September from $33.06 billion in August.
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ETFs: ( FXI ), ( KWEB ), ( CQQQ ), ( MCHI ), ( ASHR ), ( YINN ), ( TDF ), ( CHIQ ), ( GXC ), ( EWH ), ( KBA ), ( YANG ), ( CXSE ), ( CAF ), ( CWEB ), ( PGJ ), ( KURE ), ( CHIX ), ( CYB ).
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Currency: ( CNY:USD )
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China consumer prices unexpectedly flat, factory-gate price fall the least in 6 months
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China sovereign wealth fund raises stake in 'Big Four' banks
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Fresh stimulus from China to bolster crisis-hit property sector
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China's exports, and imports fell 6.2% in September amid weak global demand