Investing.com - China's trade surplus widened less-than-expected in October, as export growth slowed significantly, official data showed on Thursday.
In a report, the Customs General Administration of China said the nation’s trade surplus widened to USD17.0 billion in October from USD14.5 in the previous month.
Economists had expected the trade surplus to widen to USD26.1 billion in October.
The report said that exports rose by 15.9% in October from a year earlier, slowing from 17.1% in September. Imports jumped 28.7% from a year earlier, accelerating from 20.9% in the previous month.
China’s export growth to the European Union slowed to 7.5% in October from a year earlier. Total export sales were USD157.5 billion in October, the lowest in five months.
Following the release of the data, Asian stock markets were sharply lower. Hong Kong’s Hang Seng Index plunged 5.4%, while Japan’s Nikkei 225 Index tumbled 2.9%.
In a report, the Customs General Administration of China said the nation’s trade surplus widened to USD17.0 billion in October from USD14.5 in the previous month.
Economists had expected the trade surplus to widen to USD26.1 billion in October.
The report said that exports rose by 15.9% in October from a year earlier, slowing from 17.1% in September. Imports jumped 28.7% from a year earlier, accelerating from 20.9% in the previous month.
China’s export growth to the European Union slowed to 7.5% in October from a year earlier. Total export sales were USD157.5 billion in October, the lowest in five months.
Following the release of the data, Asian stock markets were sharply lower. Hong Kong’s Hang Seng Index plunged 5.4%, while Japan’s Nikkei 225 Index tumbled 2.9%.