Chinese exports rose twice as fast as expected in September
Sat 13 Oct 2012
LONDON (SHARECAST) - China's exports rose at their fastest pace in September, by 9.9 per cent year-on-year, the customs administration said yesterday in Beijing, hitting a new record.
The consensus estimate had been for an increase of 5.5%.
Imports bounced back by 2.4%, as expected and after the previous month´s drop, to leave a $27.7bn difference (Consensus: $20.5bn), the largest since back in June, and ahead of last month´s reading of $26.66bn.
Of interest as well, copper imports increased to a four month high in September and purchases of iron ore reached their biggest size -in volume terms- since January 2011, customs data showed.
Year-to-date Beijing´s trade balance recorded a 38% rise versus 2011, to reach $148.3bn.
The country's exports to the US increased at their fastest pace in three months but those to the European Union dropped by 10.7%.