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China's exports declined further in September
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Top Stories |
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IANS | 14 Oct, 2019
China's exports declined further in September, majorly due to the Asian
giant's prolonged trade dispute with the US amid slowing global economic
growth, official data revealed on Monday.
China's exports last
month decreased 3.2 per cent from a year earlier, following August's
1-per cent drop, Efe news reported citing the General Administration of
Customs (GAC) data.
A Wall Street Journal (WSJ) poll of economists had tipped a 3 per cent decline.
Imports slid 8.5 per cent on year in September, extending August's 5.6 per cent drop, the customs data showed.
The WSJ poll had forecast a decline of 6 per cent.
China's
overall trade surplus stood at $39.65 billion in September, wider than
August's $34.8 billion surplus and the $34.05 billion surplus that had
been expected.
According to the GAC, the total trade volume for
the first three quarters of 2019 grew 2.8 per cent year-on-year,
reaching 22.91 trillion yuan ($3.2 trillion).
Exports grew by 5.2 per cent in the same nine-month period compared to the previous year, while imports shrank 0.1 per cent.
Between
January and September this year, China's trade surplus was 2.05
trillion yuan ($290 billion), an increase of 44.2 per cent compared to
the first three quarters of 2018.
Trade tensions between China
and the US have eased a little following last week's high-level trade
talks, with Washington shelving new tariffs against Beijing while
leaving many demands to be worked out later, in return for an assurance
of increased agriculture purchases by China.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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