Published: Fri, October 13, 2017
Global Media | By Meredith Barber

China's Exports Grow Less Than Forecast; Imports Growth Tops Expectations

China's Exports Grow Less Than Forecast; Imports Growth Tops Expectations

The world's second biggest economy recorded a trade surplus of CNY193 billion (USD29.3 billion), down from CNY 286.5 billion in August.

Exports rose 8.1 percent to $198.3 billion, up from August's 5.5 percent, trade data showed Friday.

The breakdown of trade with North Korea was given in response to a reporter's question at a briefing following publication of China's overall trade statistics for September.

Export growth was unexpectedly strong in the first half of the year, a positive sign for Chinese leaders who want to avoid job losses in trade-related industries as they try to nurture consumer-led economic growth.

China's exports to North Korea from January to September rose 20.9 per cent to US$2.55 billion while imports dropped 16.7 per cent to US$1.48 billion.

The trade surplus narrowed in September to $28.47 billion from almost $42 billion the previous month, falling short of expectations for a $37.3 billion surplus.

"Nonetheless, today's figures suggest that not only has strong foreign demand continued to prop up manufacturing activity in China but domestic demand remains resilient, too", Evans-Pritchard said.

China's trade with North Korea fell sharply in September as sanctions finally began to bite, data released by the Chinese government on Friday (Oct 13) showed. The surplus grew to $28.08 billion from $26.23 billion in August. Estimates, growth in export and import volumes picked up to 6.7% year-on-year and 13.6% respectively.

That could aggravate President Donald Trump's frequent complaints that the trade balance between the two nations hurts the USA economy.

Commerce Secretary Wilbur Ross recently pressed China on the "need to rebalance bilateral trade and investment relations" and urged it to take "meaningful action" on trade issues.

The UN stepped up sanctions after Pyongyang fired missiles over Japan and tested its sixth and most powerful nuclear bomb last month.

China's imports from North Korea fell for the seventh month in a row, official data showed today, after Beijing vowed to apply United Nations sanctions to pressure Pyongyang over its nuclear and missile tests.

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