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Thanks largely to the economic turnaround in the United States and Europe, exports from China declined more slowly in October, sending a strong signal that the recovery is gaining momentum.
Customs statistics indicate exports fell by 13.8 percent from their level a year ago. The total value of exports in October stood at $110.76 billion.
The decline in exports in September was 15.2 percent.
Imports decreased by 6.4 percent, to $86.78 billion during October. That followed a 3.5 percent decrease in September.
The changes meant the trade surplus in October increased to $23.99 billion, almost double the surplus in September.
"It's a positive signal suggesting the Chinese economy is recovering in a sustainable way," said Li Wei, from Standard Chartered.
According to the Commerce Department, the US economy grew by 3.5 percent during the third quarter - the first positive figure for the past year and an indication that the worst of the downturn is now over.
In addition, the Euro-zone Economic Outlook compiled by three major European economic researchers suggests the European economy will grow by 0.4 percent in the next quarter, bringing to an end a decline in Europe that has dragged on for four quarters. |
