China’s exports declined for a fourth straight month in October, adding to signs of mounting headwinds facing the world’s second-largest economy.
Overseas shipments dropped 3.6 percent in October in yuan terms, the customs administration said Sunday, compared with a 1.1 percent decline in September. Imports fell for a 12th straight month, declining 16 percent in yuan terms, after a 17.7 percent decrease the prior month. The trade surplus was 393.2 billion yuan ($61.9 billion).
‘Chinese exports continue to face structural headwinds due to weak demand in key markets’ such as the European Union and Japan, said Rajiv Biswas, Asia-Pacific chief economist at IHS Global Insight in Singapore. ‘Exports have also been impacted by the more recent growth slowdown in emerging markets, which had become fast-growing markets for Chinese exports in recent years.’
This post was published at David Stockmans Contra Corner by Bloomberg Business ‘ November 9, 2015.
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