Chinese exports unexpectedly fell

The volume of Chinese exports in October last year unexpectedly decreased by 0.3% compared to the same month last year and amounted to $298.37 billion, according to data from the General Administration of Customs of China.

Analysts polled by The Wall Street Journal had expected a 4% rise in October after a 5.7% rise in September.

So, in October 2022, exports fell for the first time since May 2020, and experts attributed this mainly to a decrease in global demand amid the global economic downturn.

As for imports, their volume in October last year decreased by 0.7% year on year and reached $213.17 billion after increasing by 0.3% in the previous month (September 2022). Economists expected that last month this indicator has not changed.

China’s foreign trade surplus in October 2022 was $85.2 billion, up from $84.7 billion in September 2022, while analysts estimated the October 2022 surplus at $95.8 billion.

Source: Interfax