China's imports unexpectedly grew in October while exports contracted at a quicker pace, in a mixed set of indicators that showed the recovery in the world's second-largest economy remains uneven amid multiple challenges at home and abroad.
An aerial view shows containers and cargo vessels at the Qingdao port in Shandong province, China May 9, 2022. Picture taken with a drone. China Daily via REUTERS/File PhotoBEIJING, Nov 7 -
Exports shrank 6.4% from a year earlier in October, customs data showed on Tuesday, faster than a 6.2% decline in September and worse than a 3.3% fall expected in a. Imports rose 3.0%, dashing forecasts for a 4.8% contraction and swinging from a 6.2% fall in September. Imports snapped 11 straight months of decline.
"The significant improvement in imports may come from rising domestic demand, in particular a demand to replenish stocks." However, in a sign trade is finding some footing, South Korean exports to China fell at their slowest pace in 13 months in October.
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