China’s trade surplus came in at USD 90.07 billion in October, smaller than expectations of USD 95.6 billion and below the USD 95.72 billion recorded in the same month last year. It marked the smallest trade surplus since February, as exports unexpectedly fell while imports rose. Exports fell 1.1% yoy, missing forecasts for a 3% gain and reversing an 8.3% growth in September, as overseas orders tapered off following months of front-loading to beat new US tariffs. The Golden Week holiday, along with a high base effect from last year, also contributed to the drop. Imports climbed by 1.0%, below expectations for a 3.2% rise and well under the 7.4% gain in September — marking the weakest import growth since May, when purchases fell by 3.4%. China’s trade surplus with the US rose to USD 24.76 billion in October, up from USD 22.82 billion in September. Year-to-date, China posted a total trade surplus of USD 964.8 billion, with exports rising 5.3% while imports fell 0.9%.
