China’s October trade surplus surged by 30% to US$32.5 billion, hitting a new high for the third straight month, AP reported, citing data from the national customs agency. The surplus with the US rose 13.6% to US$17.5 billion. The surplus with Europe rose 12.2% to US$15.6 billion. However, export growth showed signs of weakness, rising by 19.1% to US$128.3 billion, down from September’s figure of 21.5% and July’s peak of 26.9%. October imports rose by 12.4% to US$93.1 billion, compared with 21.3% growth in September. China’s trade surplus in the first 10 months of the year was US$215 billion, a 1% increase over the same period last year. Analysts said that slowing export growth was caused the by the global financial crisis and that further measures aimed at boosting domestic consumption are expected.
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