Hours on November 9, 2018
Last update in
November 8, 2018 / 21:23
China predicted much higher exports in October than expected, as exporters agreed to ship goods to the US, the largest trading partner in Beijing, in order to avoid higher tariffs that will come into force early next year.
Import growth also exceeded expectations of a slowdown, suggesting that growth-promoting measures to support a fast-growing economy may slowly emerge. And optimistic trading data is good news for global uncertainty about global demand and policy makers, after the economy experienced weak growth after the global financial crisis in 2008.
October is the first full month after the latest US tariffs for Chinese goods entered into force on September 24, with the intensification of a trade war between the two countries. However, analysts point to the danger of a sharp decline in demand for Chinese goods at the beginning of 2019, focusing now on whether Presidents Donald Trump and Xi Jinping can make progress on trade when they meet later that month.
Chinese exports rose 15.6 percent in the same month of 2017, accelerating from 14.5 percent compared to the September reading, which exceeded forecasts by analysts for an average slowdown in export growth to 11 percent, according to customs data yesterday.
In the first ten months of this year, China's total trade surplus with the United States, its largest export market, reached 258.15 billion US dollars, and rose sharply from US $ 222.98 billion in the same period last year.
While the monthly surplus in October dropped slightly to $ 31.78 billion, from September 34.13 billion dollars, they remain high under previous standards. In October, imports increased by 21.4 percent, from 14.3 percent in September, with analysts' expectations falling to 14 percent.
German exports fell more than expected in terms of imports, as the volume of trade surpluses declined, as trade tensions with the United States slowed down the traditional driver of growth for Europe's largest economy.
The Federal Bureau of Statistics has announced that adjusted exports according to seasonal factors fell by 0.8 percent in September, while imports fell by 0.4 percent. Analysts received by Reuters showed a 0.3% growth in exports and a 0.8% increase in imports. The German trade surplus fell to 17.6 billion euros (20.09 billion dollars) in August from the revised 18.2 billion euros.