China’s exports stay strong, trade surplus tops $80 billion
China’s exports remained strong in October, a positive sign for an economy trying to weather power shortages and COVID-19 outbreaks, reports AP.
The country’s customs agency said Sunday that exports totaled $300.2 billion, up 27.1% from a year ago. That was down from a 28.1% increase in September but still healthy. Imports came in at $215.7 billion, a 20.6% rise.
Exports and imports are much higher than a year ago, when much of the world was in the throes of the COVID-19 pandemic, but there is widespread concern that economic headwinds are slowing growth.
The world’s second-largest economy grew 4.9% in the three months ending in September, down from 7.9% in the previous quarter.
China’s trade surplus in October was $84.5 billion, up from $66.8 billion the previous month, the customs agency said.
The surplus with the U.S. was down slightly to $40.7 billion, compared to $42 billion in September. With the EU, it was $25.9 billion.
