China October exports jump 22.9%, imports grow 25.3%

10 November 2010 04:32  [Source: ICIS news]

SHANGHAI (ICIS)--China’s exports in October jumped 22.9% year on year to $135.98bn (€97.9bn), while its imports were up 25.3% to $108.83bn, official statistics showed on Wednesday.

The growth in exports was 2.2 percentage points lower than September’s numbers, while the pace of imports accelerated 1.2 percentage points in October compared with the previous month, based on China Customs data.

“The slipping exports growth indicated there is still some trouble in the economic recovery of developed countries,” said Cai Xiao, a Beijing-based analyst from brokerage Hong Yuan Securities.

The stronger growth in imports last month was partly attributed to the global increase in commodity prices, Cai said.

In the first 10 months of 2010, China’s exports soared 32.7% to $1,271bn, while imports surged 40.5% to $1,123bn, according to China Customs.

($1 = €0.72)

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