Business

China's October exports and imports growth slowed

BEIJING China's exports and imports growth eased last month, in a sign that the world's second-largest economy is starting to cool after a strong first half, with momentum seen slackening further as Beijing's crackdown on pollution hits factory output.

The trade data also showed that China's goods surplus with the United States, historically a sore spot in relations between the two nations, narrowed last month, as investors awaited US President Donald Trump's arrival in Beijing yesterday.

Last month's exports for China rose 6.9 per cent from a year earlier in dollar terms, slightly lagging analysts' forecast of a 7.2 per cent increase, compared to 8.1 per cent growth in September, official data showed yesterday.

Imports grew 17.2 per cent year on year last month, beating forecast of 16 per cent growth but slightly slower than the 18.7 per cent rise in September.

Mr Trump has railed against China's massive trade surplus with the US, criticising Beijing for not playing by the rules.

The latest data showed that shipments to the US rose 8.3 per cent on-year last month, while imports increased 4.3 per cent.

That resulted in US$26.62 billion (S$36.2 billion) trade surplus with the US last month, based on Reuters' calculations of official data, down from a record US$28.08 billion in September. - REUTERS

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