China exports grow at fastest pace since mid-2022 - RTHK
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China exports grow at fastest pace since mid-2022

2024-11-07 HKT 13:19
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  • Chinese exports record a 12.7 percent increase in October, the strongest growth in more than two years. File photo: AFP
    Chinese exports record a 12.7 percent increase in October, the strongest growth in more than two years. File photo: AFP
Chinese exports surged last month at their fastest pace in more than two years, easily topping forecasts and providing optimism about the economy as officials steel for a potential trade war with the United States after Donald Trump was re-elected president.

Exports rose 12.7 percent in October from a year earlier to US$309.1 billion, according to customs data released on Thursday.

The figure is the best since July 2022.

Exports to the US rose 8.1 percent while outbound shipments to Europe jumped 12.7 percent.

"We expect shipments to stay strong in the coming months," Zichun Huang, China economist at Capital Economics, said in a note. "Any potential drag from Trump tariffs may not materialise until the second half of next year."

"Trump's return could create a short-term boost to Chinese exports as US importers increase their purchases to get ahead of the tariffs," she added.

Imports, meanwhile, fell 2.3 percent, turning negative for the first time in four months.

China's trade surplus rose to US$95.7 billion in October, up from US$81.7 billion in September. (Agencies)

China exports grow at fastest pace since mid-2022