China’s exports rose 35.2% in October, imports up 41.6% — CNBC

In China, goods exports increased by 35.2% year-on-year in October, while imports rose by 41.6%, CNBC reports. Both figures exceeded the expectations of analysts surveyed by Reuters. At the same time, the country’s foreign trade surplus shrank sharply and came in below forecasts.

Exports in October

According to official data, annual export growth amounted to 35.2%. The data were released on Monday. The annual export growth rate slowed compared with September, when it stood at 36.3%. Analysts surveyed by Reuters had expected an increase of 33.5%, so the actual result exceeded the forecast.

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Imports exceeded forecasts

According to customs data, imports in October rose by 41.6% year-on-year after 31% in September. Analysts in a Reuters survey had forecast an increase of 32%, so the actual figure also exceeded expectations.