China Oct Trade Surplus USD 31.99 Bn, 45-month High

Source: General Administration of Customs, ChinaScope Financial (Data)

+       According to data published by the General Administration of Customs on November 10, China’s exports for October grew 11.6 percent year-on-year, the most in five months, to USD 175.57 billion. Imports increased 2.4 percent year-on-year to USD 143.58 billion. October trade surplus hit a 45-month high of USD 31.99 billion.

+       In the first ten months of 2012, China’s exports grew 7.8 percent year-on-year to USD 1.67 trillion, while imports increased 4.6 percent year-on-year to USD 1.49 trillion, resulting in a trade surplus of USD 180.23 billion.

+       In the January-October period, China’s trade with the European Union fell 3 percent year-on-year to USD 452.83 billion. Trade with the US increased 9.1 percent year-on-year to USD 396.09 billion. Trade with Japan was USD 275.47 billion, down 2.1 percent year-on-year.

China’s trade surplus continued to widen in October as export growth accelerated to 11.6 percent while import growth remained at modest 2.4 percent. Higher export growth is the most recent of many signs indicating that China’s economic growth might be picking up in 12Q4.

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