China: Trade Surplus Narrowed In September
13 October, 2011, 12:24. Posted by ZarathustraTags: Economy, Trade
The General Administration of Custom of China published the latest set of trade figures. Trade surplus for September decreased 18% from US$17.76 billion in August to US$14.51 billion vs. consensus of US$16.9 billion. On an year-on-year basis, the surplus decreased by 13.2%.
Exports jumped 17.1% from a year earlier to US$169.67 billion vs. market expectation of a 20.8% rise, while imports increased by 20.9% from a year earlier to US$155.2 billion vs. market expectation of a 24.6% rise. On seasonally adjusted basis, exports grew by 18.9% yoy, while imports grew by 24.9% yoy.
On a month-on-month basis, exports decreased by 2.1%, while imports decreased by 0.3%.
Source: General Administration of Customs
The latest data set is pretty unimpressive, if you like. Import, Export growths and trade balance have all missed expectation. The slowing export growth has been an underlying but slow trend, and with slowing global economy, that should not be too surprising, and it is expected to continue if the outlook continues to deteriorate. On the import side, the trend is not looking particularly good as well, possibly an indication that the internal demand has also somewhat weakened. On the whole, this is not a particularly encouraging report.
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About Zarathustra
Zarathustra: Founder and Managing Editor of Also sprach Analyst. Once an analyst, now an investor and entrepreneur. Based in Hong Kong, but Londoner at heart.
