China trade balance grows more than expected in Oct as exports surge
Investing.com-- China’s trade balance grew more than expected in October, as export growth blew past expectations on robust overseas demand and local production, while imports shrank amid weak local demand.grew to $95.27 billion in October, customs data showed on Thursday. The reading was higher than expectations for a surplus of $73.5 billion and increased from the $81.71 billion seen in the prior month., which grew 12.7% year-on-year in October.
Stronger exports were driven chiefly by robust overseas demand, while local producers largely shrugged off the impact of recent trade tariffs increases by the west, especially on China’s electric vehicle sector.shrank 2.3% y-o-y in October, more than expectations for a 1.5% drop and reversing course from a 0.3% increase in the prior month.
Beijing outlined its most aggressive course of stimulus measures in the past month, aimed chiefly at supporting local economic growth. But their scale and execution still remains unclear.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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