Chinese trade balance surplus rose less than expected in October

China’s exports grew at a slower-than-expected pace in October, while imports surged on domestic demand, official data cited by rttnews.

In dollar terms, exports climbed 6.9 percent year-over-year in October, data from the General Administration of Customs revealed.

Shipments were forecast to climb 7.1 percent after rising 8.1 percent in September.

Meanwhile, imports surged 17.2 percent in October from a year ago, faster than the expected growth of 17.0 percent.

Consequently, the trade surplus totaled $38.2 billion in October versus the expected level of $39.1 billion. At the same time, the trade surplus with the U.S. decreased to $26.6 billion.