China's exports down 10 per cent in September
Imports decline slightly. Exports decline more than forecast. As the global economy remains sluggish, foreign and domestic demand remain low.
Beijing (AsiaNews) – Exports declined 10 per cent from a year earlier, the General Administration of Customs reported. Imports also dropped.
The 10 per cent drop is the biggest since February, far worse than the 3.8 per cent decline predicted, and this despite a weaker yuan, at its lowest point in more than six years.
Imports declined 1.9 per cent from a year ago despite a rise in oil and iron ore use in steel manufacturing.
Prices in the latter sector rose by 0.1 per cent. Thanks to this small increase, oil imports rose by 18 per cent in September from a year earlier.
Overall, global economic recovery remains sluggish, as overseas demand stay low, said Huang Songping, spokesperson for China customs