China Trade Surplus Widens in September


China trade surplus increased to USD60.34 billion in September of 2015 from USD30.96 billion reported a year earlier and beating market consensus, as imports fell much more than exports.

In September, exports declined by 3.7 percent year-on-year to USD205.56 billion, less than expected , compared to a 5.5 percent fall in the previous month. Imports slumped 20.4 percent year-on-year to USD145.22 billion, following a 13.8 percent drop in August. It is the 11th straight month of decline, as a result of declining commodity prices and weak demand. In the previous month, the country registered a USD60.24 billion trade surplus.
 
Considering the first nine months of 2015, exports  dropped by 1.9 percent, driven by coal & ignite (-27.0 percent); coke & semi coke (-7.0 percent); refined oil (-27.1 percent); clothing accessories (-6.7 percent); footwear (-4.3 percent); precious metals (-68.0 percent); steel (-4.8 percent); automatic data processing equipments and parts (-13.7 percent); automotive parts (-4.1 percent); LCD panel (-4.6 percent) and agricultural products (-2.5 percent). In contrast, outbond shipments increased for: rice (+15.9 percent); crude (+383.6 percent); mineral fertilizer (+43.7 percent); plastic products (+1.6 percent); ceramic products (+18.7 percent); unwrought aliminium and aluminium (+14.7 percent); handheld wireless (+13.3 percent); IC (+3.8 percent) and lamps, lighting fixtures and parts (+13.8 percent).
 
Sales declined to: Hong Kong (-11.5 percent), Japan (-9.7 percent), Taiwan (-2.8 percent), the EU countries (-4.3 percent) and Russia (-36.0 percent). In contrast, outbond shipments rose to: India (+8.6 percent), the ASEAN countries (+5.7 percent), the US (+4.0 percent), South Africa (+7.9 percent), Australia (+3.5 percent) and New Zealand (+6.5 percent).
 
Imports also dropped by 15.3 percent, as purchases from all of the country's trading partners declined except Vietnam and Canada. Those from the US decreased by 7.5 percent, India (-22.2 percent), Japan (-12.4 percent), Hong Kong (-13.1 percent), the ASEAN countries (-9.7 percent), South Korea (-9.7 percent), the EU countries (-13.6 percent), Russia (-20.9 percent), South Africa (-35.4 percent), Australia (-26.3 percent) and New Zealand (-34.4 percent). In contrast, imports from Vietnam rose by 20.6 percent.
 

China Trade Surplus Widens in September


General Administration of Customs l Rida Husna | rida@tradingeconomics.com
10/13/2015 11:41:08 AM