China: Exports tumbled 3.6% in October – ANZ

By FXStreet FXStreet (Delhi) – Research Team at ANZ, notes that the Chinese exports fell 3.6% y/y in RMB terms in October, compared with a 1.1% decline in September.

Key Quotes

“In USD terms, exports declined 6.9% y/y. Imports in RMB terms contracted 16% y/y in October, from a 17.7% drop in September, while they fell 18.8% in USD terms. Soft domestic demand and the decline in commodity prices continued to weigh on China’s import growth.”

“Total trade contracted by around 8% y/y in the first ten months of 2015, compared with the annual trade growth target of 6% in 2015. As imports fell much faster than exports, the trade surplus remained large at RMB393.2bn (USD61.6bn) in October.”
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Source:: FX Street