This marked the fifth straight month of decline in exports, amid a gradual stabilization in the economy boosted by a series of policy support measures.
Imports to China shrank 6.2% y/y to $221.4 billion in September 2023, slowing from a 7.3% fall a month earlier and compared with market consensus of a 6.0% decline.
This marked the eighth time of decrease in purchases so far this year but the softest drop since May following multiple efforts from Beijing to spur domestic demand.
China’s trade surplus narrowed to $77.71 billion in September 2023 from $82.72 billion in the same period a year earlier, but exceeding market forecasts of $70 billion, with exports and imports declining at the same pace.
The trade surplus with the United States widened to $33.2 billion in September from $33.06 billion in August.
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