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 20.4% YoY, a slight improvement from September's 18.8%, 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.
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.