China just delivered another solid trade report

china, dragonFeng Li/ Getty Images

  • Trade in China is on the rise.
  • The yuan rose by 2.1% against the US dollar in the 12 months to October.
  • China’s General Administration of Customs says imports have also grown past expectations.

Chinese trade data remains solid if not spectacular.

According to China’s General Administration of Customs, exports grew by 6.9% in US dollar terms in the year to October, down marginally on the 8.1% level of September and forecasts for a smaller decline to 7.2%.

In comparison, imports came in ahead of expectations, lifting by 17.2% over the year in USD-denominated terms. While below the 18.7% level of September, that was above the 16.0% level forecast by economists.

In yuan denominated-terms, exports and imports grew by 6.1% and 15.9% respectively over the year.

The yuan rose by 2.1% against the US dollar in the 12 months to October.

The trade surplus swelled to $ 38.17 billion, up from $ 28.47 billion in September but below the $ 39.5 billion level expected.

China trade data Oct 2017BIAUS

NOW WATCH: THE BOTTOM LINE: Chipotle’s earnings disaster, Amazon’s new headquarters, and the unstoppable stock market

Feedburner

Post Author: martin

Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.