World News | China's Exports Stay Strong, Trade Surplus Hits USD 84 Billion

Beijing, Nov 7 (AP) China's exports remained strong in October, a positive sign for an economy trying to weather power shortages and COVID-19 outbreaks.

The country's customs agency said Sunday that exports totaled USD 300.2 billion, up 27.1 per cent from a year ago. That was down from a 28.1 per cent increase in September but still healthy. Imports came in at USD 215.7 billion, a 20.6 per cent rise.

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Exports and imports are much higher than a year ago, when much of the world was in the throes of the COVID-19 pandemic, but there is widespread concern that economic headwinds are slowing growth.

China's economy has been buffeted by the government's tough COVID-19-related restrictions, which have depressed domestic travel and consumer demand, and power shortages that have pushed down factory production. Regulators are also cracking down on debt-laden real estate developers, slowing the housing market.

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China's trade surplus in October was USD 84.5 billion, up from USD 66.8 billion the previous month. The surplus with the US was down slightly to USD 40.7 billion, compared to USD 42 billion in September. With the EU, it was USD 25.9 billion.(AP)

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)