China’s exports +27.1% y/y in October
- expected was +22.7%, so a handy beat indeed.
- prior was +28.1%
- exports for January – October 2021 are already above all of 2020, the external sector has held in well to make up for softer domestic demand in the earlier months of this year
Imports in October +20.6% y/y
- expected +26.6%
- prior +17.6%
- coal imports were up nearly 100% y/y as the power sector trie to recover from shortages
The trade balance for the month was a surplus of US$84.54 bn, this is fresh record high surplus for a month.
- prior was a revised US$66.76 bn
China’s trade surplus with the United States was US$40.75 bn in October
- prior was US$42 bn
- For the first ten months of the year, the surplus was $320.67 bn.
