China's October Export and Import Growth is Expected to Remain Steady
China’s exports and imports are expected to have expanded in October, but their growth rates are forecast to remain on a gradual decelerating trajectory. According to economists’ forecasts, China's exports will grow by 11% yoy in October, slower than the previous month's 14.5% jump but faster than August's 9.8% gain. Imports are expected to have slowed slightly to 14% yoy in October from 14.3% in September.
While China's exports have been surprisingly resilient so far to US tariffs, Washington's threat of more duties in an escalating trade conflict has depressed global sentiment and shocked financial markets.
The United States has imposed additional duties of between 10% and 25% on $250 billion of Chinese goods this year as punishment for what it calls the country's unfair trade practices, with the 10% tariffs set to rise to 25% from January next year.
Meanwhile, China's overall trade surplus is expected to have rebounded to $35 billion in October from $31.7 billion in the previous month.