In China this morning, China’s trade surplus expanded in October, data from the General Administration of Customs reported Tuesday.
China’s trade surplus rose to 325 billion yuan in October, from 278.4 billion the previous month. Economists forecast the surplus to widen to 300 billion yuan.
In US-denominated terms, Beijing’s surplus widened to $49.06 billion from $42 billion in September.
Imports declined at an annualized 1.4%, continuing a multi-year downtrend that was interrupted briefly in August.
The value of exports declined at a bigger than expected 7.3% annualized rate, following a 10% drop the month before.