Chinese exports and imports rose much less than expected in September

BEIJING — China’s exports rose 2.4 percent in September from a year ago in U.S. dollar terms, while imports rose 0.3 percent. customs data shown Monday.

Both figures were well below expectations. Chinese exports are expected to have increased 6% year-on-year in September in U.S. dollar terms, according to a Reuters survey. This would be slower than the 8.7% increase recorded in August.

Imports are expected to have increased 0.9% in September from a year ago, according to the Reuters survey. This would be slightly faster than the 0.5% increase recorded in August.

Exports have been a bright spot for China’s economy, which has been weighed down by sluggish consumer spending and a housing slump.

China’s exports to the United States, its largest trading partner, rose 2.2% in September from a year ago, while imports from the United States rose 6.7%. %, according to analysis of official data by CNBC.

Exports to the Association of Southeast Asian Nations, China’s largest trading partner on a regional basis, rose 5.5 percent, while imports rose 4.2 percent. Chinese exports to the European Union increased by 1.3%, while imports fell by 4%.

Chinese exports to Russia jumped 16.6%, but imports fell 8.4%, the analysis showed.

Inflation data released on Sunday highlighted further weakness in Chinese domestic demand.

THE basic consumer price indexwhich excludes more volatile food and energy prices, rose 0.1% in September from a year ago. This is the slowest since February 2021, according to the Wind Information database. Tourism-related prices fell 2.1% year-on-year, despite the Mid-Autumn Festival in September and the Golden Week holiday which began on October 1.

China’s National Bureau of Statistics is expected to release third-quarter GDP on Friday, as well as retail sales, industrial production and fixed asset investment for September.

The Chinese authorities have increased the number of announcements of stimulus measures since the end of last month, without achieving until now the details of fiscal policy hoped for by many investors. Chinese stocks have seen wild swings as struggling markets debate the ultimate impact of Beijing’s economic support.

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