China’s exports fell less sharply in October than economists had expected. In addition, the decline in imports was less marked than feared, according to figures from the Chinese statistics agency.
China’s exports fell by 0.9 percent on an annual basis, after falling by 3.2 percent in September. Economists generally expected a contraction of Chinese exports by 3.9 percent last month. It is the third month in a row that exports from the world’s second economy are declining, under pressure from the trade war with the United States and the cooling global economy.
Imports from China fell by 6.4 percent last month compared to a year earlier, after a minus of 8.5 percent in the previous month. Here, an average reduction of 7.8 percent was expected. Chinese imports have been decreasing for six months in a row. This indicates a weaker domestic demand in the country.