China’s export growth came in lower than forecast in September as an unexpected jump in the value of imports resulted in the country’s smallest trade surplus in half a year. But the latest data also showed the largest nominal trade surplus with the US on record, based on figures dating back to 1993.
The dollar value of outbound shipments rose 8.1 per cent year on year in September to $198.3bn, according to the General Administration of Customs, up from a rise of 5.5 per cent in August but missing a median forecast of 8.8 per cent from economists surveyed by Reuters.
Imports climbed more than expected, however, rising 18.7 per cent from a year prior to $169.8bn and outperforming a median forecast predicting growth in inbound shipments would edge up just 0.2 percentage points from August’s pace of 13.3 per cent.