Published: Fri, November 10, 2017
Technology | By Russell Knight

China's October exports and imports growth slowed

China's October exports and imports growth slowed

Data from the General Administration of Customs showed on Wednesday that imports stood at 31.03 million tonnes in October, or 7.3 million barrels per day (bpd), up from the same month a year earlier but well below about 9 million bpd in September.

In the first agreement, signed on November 8, the China Chamber of Commerce of Foodstuffs and Native Produce said it meant to purchase eight million tonnes of USA soybeans worth 3.4 billion dollars.

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The trade surplus swelled to $US38.17 billion, up from $US28.47 billion in September but below the $US39.5 billion level expected.

The data showed that imports in October grew at 15.9%, down from 19.5% in the previous month.

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Buoyant global growth is driving demand for Chinese exports, while a broader shift to a consumption-driven economy at home is supporting import growth. That compared with the poll's forecast for a 16.3% gain.

Growth in both China's exports and imports slowed in October as government efforts to crack down on heavily-polluting industry had a negative impact on factory output. Following is a breakdown of China's exports and imports with its biggest trade partners in October.

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The U.S. trade deficit with China hit $347 billion in 2016, according to U.S. figures, by far the largest shortfall among the U.S.'s trading partners.

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