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China's October exports down 3.2%, imports up 3.2%

CHINA'S exports in yuan-denominated terms fell by 3.2 percent year on year in October, while imports gained 3.2 percent, customs data showed Tuesday.

Foreign trade volume reached 2.05 trillion yuan (US$302.3 billion) in October, with trade surplus narrowing to 325.25 billion yuan, according to figures from the General Administration of Customs (GAC).

Trade volume for the first ten months dropped 1.9 percent from a year earlier to 19.56 trillion yuan while trade surplus shrank 2.6 percent to 2.88 trillion yuan.

Foreign trade with China's largest trade partner -- the European Union -- rose 2.3 percent in the first ten months year on year.

In the same period, foreign trade with the United States, China's second-biggest trade partner, fell 3.2 percent, and that with ASEAN, its third-largest trade partner, gained 0.1 percent.

Machinery and electronic products as well as goods in labor-intensive sectors like textiles and toys posted growth declines in the first ten months and private firms still led the country's exports.

Meanwhile, imports of large commodity goods including iron ore and crude oil continued to grow in the January-October period featuring general price drops, customs data showed.

An official index predicting future trade growth prospects ended previous rises in the past three months, dropping by a marginal 0.2 points.


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