国内英语资讯:10月出口跌幅缩小,压力仍然存在_时事

国内英语资讯:10月出口跌幅缩小,压力仍然存在

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China's exports growth narrowed from previous drops in October while imports accelerated growth, however weak global demand might weigh on future trade growth.

Exports measured in yuan fell 3.2 percent year on year in October, a slower pace of decline than the 5.6 percent fall in September, while imports in yuan rose 3.2 percent, up from 2.2 percent last month, according to figures from the General Administration of Customs on Tuesday.

Stripping out the impact of yuan depreciation, exports in U.S. dollar terms fell 7.3 percent year on year in October while imports slipped 1.4 percent.

China's trade surplus in dollar terms was about 49 billion U.S. dollars, up from 42 billion U.S. dollars in September. The surplus is in contrast to a larger-than-expected decline of 45.7 billion U.S. dollars in China's foreign reserves in October, indicating quicker capital outflows in the month.

Stronger import figures were a positive sign on domestic demand as import volumes of commodity goods such as crude oil, coal and iron ore increased in the first ten months, according to Deng Haiqing, chief economist with JZ Securities.

Foreign trade with China's largest trade partner the European Union and the third largest one ASEAN gained year on year in the first ten months, while it dropped with the United States, its second largest trade partner.

World trade will grow more slowly than expected in 2016, expanding by just 1.7 percent, well below the April forecast of 2.8 percent, recording the slowest pace of trade growth since the financial crisis of 2009, according to the latest WTO estimates.