China trade figures improve slightly in September
by AFP Staff Writers
Beijing (AFP) Oct 13, 2023
Chinese exports fell in September, data showed Friday, but at a slower pace than expected for the second month in a row, providing hope that the world's number two economy is seeing some stability after stuttering throughout the year.

The government has recently enacted measures to boost activity in a sluggish economy grappling with a major property crisis and weaker consumption since Beijing abolished its strict zero-Covid policy last year.

Exports -- which have historically served as a key growth engine for China -- dropped 6.2 percent year-on-year last month, a slower pace than that forecast by economists in a Bloomberg survey.

That was an improvement on the 8.8 percent drop in August, which was also better than expected.

Imports, meanwhile, also fell 6.2 percent, compared with 7.3 percent in August and the 6.3 percent forecast.

The figures come ahead of the release of third-quarter economic growth data due next week.

But underscoring the current fragility, inflation was flat in September, separate figures showed Friday.

The main gauge, the consumer price index (CPI), came in at 0.0 percent for last month, the National Bureau of Statistics (NBS) reported.

China slipped into deflation in July for the first time since 2021 but it bounced back modestly in August. However, analysts warned a relapse in the coming months was still possible.

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