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China's exports declined further in September

By IANS | Updated: October 14, 2019 10:25 IST

China's exports declined further in September, majorly due to the Asian giant's prolonged trade dispute with the US amid slowing global economic growth, official data revealed on Monday.

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China's exports last month decreased 3.2 per cent from a year earlier, following August's 1-per cent drop, Efe news reported citing the General Administration of Customs (GAC) data.

A Wall Street Journal (WSJ) poll of economists had tipped a 3 per cent decline.

Imports slid 8.5 per cent on year in September, extending August's 5.6 per cent drop, the customs data showed.

The WSJ poll had forecast a decline of 6 per cent.

China's overall trade surplus stood at $39.65 billion in September, wider than August's $34.8 billion surplus and the $34.05 billion surplus that had been expected.

According to the GAC, the total trade volume for the first three quarters of 2019 grew 2.8 per cent year-on-year, reaching 22.91 trillion yuan ($3.2 trillion).

Exports grew by 5.2 per cent in the same nine-month period compared to the previous year, while imports shrank 0.1 per cent.

Between January and September this year, China's trade surplus was 2.05 trillion yuan ($290 billion), an increase of 44.2 per cent compared to the first three quarters of 2018.

Trade tensions between China and the US have eased a little following last week's high-level trade talks, with Washington shelving new tariffs against Beijing while leaving many demands to be worked out later, in return for an assurance of increased agriculture purchases by China.

( With inputs from IANS )

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