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Trade figures beat expectations as exports rise 15.3%
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China’s trade figures improved in September with both exports and imports beating analysts’ expectations to give the soft economy a boost.
Exports rose 15.3 percent from a year earlier to US$213.6 billion in September, faster than the 9.4 percent pace a month earlier, according to the General Administration of Customs today.
Imports increased 7 percent to US$182.7 billion, reversing August’s fall of 2.4 percent and beating many forecasts of a continued contraction.
September’s trade surplus was US$30.9 billion, down from a record-breaking US$49.8 billion in August.
Zhou Hao, an economist at Australia & New Zealand Banking Group Ltd, said the data sent positive signals.
“The number of exports reflected improving demand from advanced economies,” Zhou said. “But the surprising import figure appeared to be somewhat inconsistent with sluggish domestic demand, suggesting commodity traders may have taken advantage of low commodity prices in the past month.”
Chang Jian, an economist at Barclays, said both exports and imports posted big upside surprises. But Chang added strong data in industrial production, investment and consumption is needed before any conclusions can be made about the direction of the economy.
Despite September’s gains, trade expanded only 3.3 percent in the first three quarters, trailing the government’s 7.5 percent target for 2014.
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