China’s exports rose at a slower, although at a still marked pace in September, official figures showed on Wednesday. The slowdown in export growth dragged down the trade surplus to a five-month low.
Exports jumped 25.1% year-on-year to $145 billion, the General Administration of Customs said. This was just shy of analyst expectations for a 26% increase and comes after a 34.4% rise in the previous month.
Imports, on the other hand, climbed 24.1% to $128.1 billion, following the 35.5% increase a month ago. Economists had forecast a 25% rise.
As a result of the slowdown in exports, the trade surplus fell to a still substantial $16.9 billion from $20 billion in August. Analysts had forecast a surplus of $17.8 billion.
The large trade surplus is likely to heap more pressure on Beijing from the U.S., which runs a substnatial trade deficit with China, to let the yuan appreciate more rapidly. The U.S., which runs a huge trade deficit with China, has recently stepped up its criticism of Beijing’s exchange rate policy, claiming that the yuan is artificially undervalued to boost exports. Read more here.