Trade Data Summary - In October, China's exports increased by 12.7% year-on-year, surpassing the expected 5% and previous value of 2.4%[1] - Imports decreased by 2.3% year-on-year, compared to a previous increase of 0.3%[1] - The trade surplus for October was $95.72 billion, exceeding the expected $75.0 billion and previous value of $81.71 billion[1] Export Market Insights - Major export markets in October included ASEAN, the United States, and the European Union, with exports to ASEAN growing by 15.8%, to the U.S. by 8.1%, and to the EU by 12.7%[1] - Key products with significant export growth included grains, rare earths, and mobile phones, while ship exports saw a decline of over 30%[1] Import Dynamics - Despite a slight recovery in import momentum due to growth stabilization measures, high base effects from the previous year and low commodity prices led to a decline in import growth[1] - The import value for October was $213.34 billion, down from $222.00 billion in September[2] Future Considerations - The outcome of the U.S. presidential election may lead to potential tariff increases on Chinese imports, with proposed tariffs of 60% on Chinese goods and 10%-20% on other countries' goods by the Republican candidate[1] - Continued focus on domestic fiscal policies is expected to support improvements in domestic demand[1]
10月进出口数据快报
Guo Tou Qi Huo·2024-11-07 12:27