In USD term, China’s exports dropped -0.3% yoy to USD 298.37B in October, well below expectation of 4.3% yoy. That’s the worst performance since May 2020.
Imports dropped -0.7% yoy to USD 213.22B, below expectation of 0.1% yoy. That’s the the worst since August 2020.
The simultaneous contraction in both exports and imports was the first since May 2020.
Trade surplus widened slightly from USD 84.74B to USD 85.15B, short of expectation of USD 95.95.
