Reports reveal that China's trade with the rest of the world has fallen sharply for October, compared to a year earlier, with the importing of raw materials hit the hardest; imports fell 18.8% YoY, a slight improvement from September's 20.4%, and exports fell 6.9% in October YoY. The drop was due mainly to declines in shipments of iron ore (down 9.4%), crude oil (-8.5%), coal (+5.7%), petroleum products (-4.3%), chemicals (-3.2%), machinery (-2.7%)
Reports reveal that China's trade with the rest of the world has fallen sharply for October, compared to a year earlier, with the importing of raw materials hit the hardest; imports fell 18.8% YoY, a slight improvement from September's 20.4%, and exports fell 6.9% in October YoY. ANZ's Liu Li-gang says that China's export sector "will continue to face significant headwinds", whilst most of China's decline in imports is a result of lower commodity prices.