Date
25 May 2017
China is likely to miss its 2015 trade growth target amid continuing weakness in its export sector. Photo: Bloomberg
China is likely to miss its 2015 trade growth target amid continuing weakness in its export sector. Photo: Bloomberg

China exports fall for fourth straight month

China’s exports fell 6.9 percent in October from a year earlier in dollar terms, sliding for the fourth straight month, according to Customs data released Sunday.

The October performance came after a drop of 3.7 percent in the previous month, pointing to worsening global demand for Chinese goods.

Meanwhile, imports fell by 18.8 percent year-on-year last month, after a 20.4 percent decline in September.

Both the exports and imports figures came in below the forecasts of economists, the Wall Street Journal noted.

Trade surplus widened in October to US$61.64 billion from US$60.3 billion in the previous month.

China’s Commerce Ministry said last week that exports are likely to see little increase in 2015, while imports will likely record a “relatively big” decline as falling commodity prices continue to weigh on trade flows.

Rising labor and land costs in recent years have weakened the competitiveness of the nation’s exporters, the ministry said in a report.

Beijing has set a 6 percent year-over-year trade growth target for this year, a goal that is likely to be missed.

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