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China's September exports and imports continue to drop since May
来源：shippingazette 编辑：编辑部 发布：2023/10/19 08:55:40
CHINA's customs statistics show a smaller-than-expected decline in exports in September from a year ago, while imports missed.
In US-dollar terms, exports fell by 6.2 per cent last month from a year ago. That's less than the 7.6 per cent drop forecast by analysts in a Reuters poll. The same poll also showed that imports fell by 6.2 per cent in US-dollar terms in September compared to a year ago - slightly more than the 6 per cent expected decline.
China's exports have fallen on a year-on-year basis every month this year starting in May. The last positive print for imports on a year-on-year basis was in September last year.
Bucking the decline in trade with major trading partners were Chinese imports from the European Union, up modestly in September from a year ago, according to CNBC calculations of the official data.
The US is China's largest trading partner on a single-country basis, while the Association of Southeast Asian Nations has recently surpassed the EU as China's largest trading partner on a regional basis.
For the first three quarters of the year, China's exports to the US fell by 16.4 per cent, while imports dropped by 6 per cent during that time.
Russia was the only major country or region in the Chinese customs agency's report that showed growth in both exports and imports for the first three quarters of the year from a year ago.
In US-dollar terms, exports fell by 6.2 per cent last month from a year ago. That's less than the 7.6 per cent drop forecast by analysts in a Reuters poll. The same poll also showed that imports fell by 6.2 per cent in US-dollar terms in September compared to a year ago - slightly more than the 6 per cent expected decline.
China's exports have fallen on a year-on-year basis every month this year starting in May. The last positive print for imports on a year-on-year basis was in September last year.
Bucking the decline in trade with major trading partners were Chinese imports from the European Union, up modestly in September from a year ago, according to CNBC calculations of the official data.
The US is China's largest trading partner on a single-country basis, while the Association of Southeast Asian Nations has recently surpassed the EU as China's largest trading partner on a regional basis.
For the first three quarters of the year, China's exports to the US fell by 16.4 per cent, while imports dropped by 6 per cent during that time.
Russia was the only major country or region in the Chinese customs agency's report that showed growth in both exports and imports for the first three quarters of the year from a year ago.