Beijing, Nov. 10 (LaPresse) – China says its trade surplus has exceeded one trillion dollars for the second consecutive year. Customs data published on Tuesday show that, in October, exports surged 35% compared with the previous year, driven by strong demand for high-tech products such as computer chips and cars. Imports also recorded a year-on-year increase. Between January and October, China accumulated a trade surplus of 1.04 trillion dollars. According to experts, Chinese exports are expected to remain strong, although the pace of growth could slow next year. The surge in exports has prompted some countries to increase tariffs or adopt other protectionist measures. Export momentum has helped offset weak consumer demand within China’s enormous domestic market.
China: trade surplus exceeds 1 trillion dollars
Beijing, Nov. 10 (LaPresse) – China says its trade surplus has exceeded one trillion dollars for the second consecutive year. Customs data published on Tuesday show that, in October, exports surged 35% compared with the previous year, driven by strong demand for high-tech products such as computer chips and cars. Imports also recorded a year-on-year increase. Between January and October, China accumulated a trade surplus of 1.04 trillion dollars. According to experts, Chinese exports are expected to remain strong, although the pace of growth could slow next year. The surge in exports has prompted some countries to increase tariffs or adopt other protectionist measures. Export momentum has helped offset weak consumer demand within China’s enormous domestic market.