China’s October exports contracted by 7.3% from a year earlier to USD 178.1 billion on USD term based calculation, an improvement from September’s 10% decline, customs data showed Today. Imports fell 1.4 percent to USD129.1 billion, compared with the previous month’s 1.9% decline.
Exports for the first 10 months of this year are down 7.7% from the same period of last year, while imports are off 7.5%.
China’s global trade surplus widened to USD 49billion in October from September’s USD 42billion. The surplus with the United States was USD23.7 billion and that with the European Union, China’s biggest trading partner, was USD12.1 billion.