Among major trade partners, exports fell to the US (-17.8 percent); but rose to Japan (11 percent), South Korea (4.4 percent), Taiwan (29.5 percent), the EU (1.3 percent) and ASEAN countries (11.5 percent).
Imports slumped 8.5 percent to USD 178.47 billion, missing market consensus of a 5.2 percent fall and after a 5.6 percent drop in August
. This was the fifth straight month of yearly decrease in imports, as purchases fell for unwrought copper (-14.6 percent to 445,000 tonnes), steel products (-7.6 percent to 1.11 million tonnes), rare earth (-27.9 percent to 3,571 tonnes), rubber (-10 percent to 546,000 tonnes), and refined products (-26.5 percent to 2.14 million tonnes). In contrast, iron ore imports jumped 93.47 percent to 99.36 million tonnes, its highest level in 20 months, fuelled by firm demand at steel mills and stable shipments from big miners. Also, purchases advanced for: crude oil (10.8 percent to 41.24 million tonnes), coal (20.5 percent to 30.29 million tonnes), and natural gas (7.8 percent to 8.21 million tonnes). In addition, imports of soybeans grew 2.3 percent to 8.2 million tonnes. Also, arrivals of edible vegetable oil rose 44.3 percent to 840,000 tonnes.
Purchases declined from the US (-20.6 percent), the EU (-7.1 percent), Japan (-3.7 percent), South Korea (-14.9 percent), and Taiwan (-1.7 percent), but grew from Australia (22.2 percent) and the ASEAN countries (15.1 percent).
China's trade surplus with the US narrowed to USD 25.88 billion in September from USD 26.96 billion in August. Considering the first nine months of the year, trade surplus with the US was recorded at USD 221.33 billion.
In the January-September period, the trade surplus increased to USD 298.92 billion from USD 219.31 billion in the corresponding period the prior year, with exports falling 0.1 percent and imports declining at a faster 5 percent.