China’s import and export growth in September was far lower than expected | Wilnesh News

BEIJING – In U.S. dollar terms, China’s exports increased by 2.4% year-on-year in September, while imports increased by 0.3%. Customs data Shown on Monday.

Both figures were well below expectations. A Reuters survey shows that in U.S. dollar terms, China’s exports in September are expected to increase by 6% year-on-year. That would be down from August’s 8.7% increase.

According to a Reuters survey, imports in September are expected to increase by 0.9% compared with the same period last year. That would be slightly faster than August’s 0.5% increase.

Exports have been a bright spot for China’s economy, which has been weighed down by sluggish consumer spending and a slump in real estate.

According to a CNBC analysis of official data, China’s exports to the United States, its largest trading partner, increased by 2.2% year-on-year in September, while imports from the United States increased by 6.7%.

Exports to the Association of Southeast Asian Nations, China’s largest regional trading partner, grew by 5.5% and imports by 4.2%. China’s exports to the EU grew by 1.3%, while imports fell by 4%.

Analysis shows that China’s exports to Russia surged by 16.6%, but imports fell by 8.4%.

Inflation data released on Sunday showed further weakness in domestic demand in China.

this core consumer price indexExcluding volatile food and energy prices, the annual increase was 0.1% in September. This was the slowest since February 2021, according to the Wind Information database. Despite the Mid-Autumn Festival in September and the Golden Week holiday starting on October 1, travel-related prices still fell 2.1% compared with the same period last year.

China’s National Bureau of Statistics is scheduled to release third-quarter GDP on Friday, as well as retail sales, industrial production and fixed asset investment in September.

Chinese authorities have stepped up stimulus since late last month but have so far failed to provide the fiscal policy details that many investors had hoped for. Chinese stocks were volatile as markets debated the ultimate impact of Beijing’s economic support.

This is a breaking news story. Please check back for updates.