CHINA's exports in October rose at their fastest pace in 19 months, sharply beating analysts' estimates, according to data from the country's customs agency, reports CNBC.
Exports rose by 12.7 per cent year on year to US$309.06 billion in October - the highest jump since March 2023 when they rose 14.8 per cent, according to LSEG data. That compares with 2.4 per cent growth in September and 8.7 per cent in August.
Analysts had pegged exports growth at 5.2 per cent year on year in October, according to a Reuters poll.
Imports, however, fell by a more-than-expected 2.3 per cent in October, customs data showed. That compares with a modest growth of 0.3 per cent in September and 0.5 per cent in August. Analysts had forecast a decline of 1.5 per cent in October exports, according to a Reuters poll.
'The better-than-expected export figures can be attributed to delayed shipments in October due to improved weather conditions, ongoing price discounts to capture market share, and the traditional peak season leading up to Christmas,' Bruce Pang, chief economist of Greater china at JLL told CNBC.
China's growing reliance on exports comes amid rising trade tensions with the US and European Union amid stiff tariffs on Chinese electric cars - exports of cars still rose 11 per cent year on year last month.
Donald Trump's victory in US elections has raised concerns about higher tariffs, particularly on Chinese exports.
'In 2025, rising protectionism by the US and Europe would crimp the growth of Chinese exports. It is therefore important that fiscal stimulus adequately boosts domestic demand,' said Erica Tay, director of macro research at Maybank.
Chinese officials have unveiled a flurry of stimulus measures since late September, including interest rate cuts, lower cash reserve requirements at banks and loosened property purchase rules, in a bid to revive the ailing economy.
SeaNews Turkey
Exports rose by 12.7 per cent year on year to US$309.06 billion in October - the highest jump since March 2023 when they rose 14.8 per cent, according to LSEG data. That compares with 2.4 per cent growth in September and 8.7 per cent in August.
Analysts had pegged exports growth at 5.2 per cent year on year in October, according to a Reuters poll.
Imports, however, fell by a more-than-expected 2.3 per cent in October, customs data showed. That compares with a modest growth of 0.3 per cent in September and 0.5 per cent in August. Analysts had forecast a decline of 1.5 per cent in October exports, according to a Reuters poll.
'The better-than-expected export figures can be attributed to delayed shipments in October due to improved weather conditions, ongoing price discounts to capture market share, and the traditional peak season leading up to Christmas,' Bruce Pang, chief economist of Greater china at JLL told CNBC.
China's growing reliance on exports comes amid rising trade tensions with the US and European Union amid stiff tariffs on Chinese electric cars - exports of cars still rose 11 per cent year on year last month.
Donald Trump's victory in US elections has raised concerns about higher tariffs, particularly on Chinese exports.
'In 2025, rising protectionism by the US and Europe would crimp the growth of Chinese exports. It is therefore important that fiscal stimulus adequately boosts domestic demand,' said Erica Tay, director of macro research at Maybank.
Chinese officials have unveiled a flurry of stimulus measures since late September, including interest rate cuts, lower cash reserve requirements at banks and loosened property purchase rules, in a bid to revive the ailing economy.
SeaNews Turkey
