2018-11-08
China announced much higher-than-expected exports in October as exporters rushed to ship goods to the United States, Beijing's biggest trading partner, to pre-empt higher tariffs entering into force early next year.
 
Import growth also outstripped expectations of a slowdown, suggesting that Beijing's growth-boosting measures to support the rapidly growing economy may be slowly starting to appear.
 
Optimizing trade data is a good news of uncertainty over global demand and policymakers in the country after the economy recorded the weakest pace of growth since the global financial crisis in the third quarter.
 
October was the first full month after the latest US tariffs on Chinese goods entered into force on Sept. 24 amid a deepening trade war between the two countries.
 
But analysts warn of the risk of a sharp drop in US demand for Chinese goods in early 2019, with the spotlight currently focused on whether Presidents Donald Trump and Xi Jinping could make progress on trade when they meet later this month.
 
China's exports rose 15.6 percent last month from a year ago, accelerating from a 14.5 percent reading in September, according to customs data on Thursday, beating analysts' expectations for a moderate slowdown in export growth to 11 percent.
 
In the first ten months of the year, China's total trade surplus with the United States, its largest export market, totaled $ 258.15 billion, rising strongly from $ 222.98 billion in the same period last year.
 
While the monthly surplus fell somewhat to $ 31.78 billion in October from a record $ 34.13 billion in September, it remains high by historical standards.
 
Imports grew in October to 21.4 percent from 14.3 percent in September, beating analysts' expectations of a slight drop to 14 percent.