China October exports rise 15.6 percent, imports up 21.4 percent, beat forecasts

China October exports rise 15.6 percent, imports up 21.4 percent, beat forecasts

BEIJING: China's October exports rose 15.6 percent from a year earlier, while imports expanded 21.4 percent, both handily beating analysts' expectations, official data showed on Thursday.

That left the country with a trade surplus of US$34.02 billion for the month, the General Administration of Customs said.

Analysts polled by Reuters had expected October shipments from the world's largest exporter to have risen 11.0 percent. Exports rose 14.5 percent in September.

Imports were expected to have climbed 14.0 percent, after rising 14.3 percent in September.

Analysts were expecting China's trade surplus to have widened to US$35 billion in October from September's US$31.69 billion.

With the export outlook clouded by U.S. tariffs and China's economy expanding at the weakest pace since the global financial crisis, policymakers in Beijing have recently turned their focus to growth boosting measures, including increasing export tax rebates and pledging more support to private firms.

(This story corrects China's trade surplus to US$34.02 bln in second paragraph from US$34.01 bln, after authorities said the full figure, US$34.016 bln, was rounded differently in different official documents)

(Reporting by Beijing Monitoring Desk; Editing by Kim Coghill)

Source: Reuters

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