China’s September exports dropped 0.3% from a year earlier, the Customs Administration said on Saturday, overturning market expectations of a 6% rise, Reuters reported. Imports however rose 7.4% in September from a year ago, beating forecasts of a 7% increase, shrinking China’s monthly trade surplus to US$15.2 billion. The data showed Chinese exports to Southeast Asia, China’s fastest-growing export market in the past year, dived to a 17-month low in September. Demand shrank due to capital outflows from the region on bets that the US central bank will cut its bond purchases, said Hong Kong-based RBS economist Louis Kuijs.
Categories