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China’s Sept exports down 5.6%, imports up 2.2%

Updated: Oct 13,2016 2:08 PM     Xinhua

BEIJING — China’s exports in yuan-denominated terms fell 5.6 percent year on year in September, while imports increased 2.2 percent, customs data showed on Oct 13.

Foreign trade in the first three quarters was down 1.9 percent from a year earlier to reach 17.53 trillion yuan ($2.61 trillion), with exports dropping 1.6 percent and imports falling 2.3 percent, according to figures from the General Administration of Customs (GAC).

Trade surplus for the first nine months widened 0.6 percent from a year earlier to 2.59 trillion yuan.

Foreign trade with countries included in the China-proposed Belt and Road initiative posted strong growth momentum during the January-September period, with trade with Pakistan, Russia, Poland, Bangladesh and India climbing 14.9 percent, 14 percent, 11.7 percent, 9.6 percent and 7.8 percent, respectively, year on year, GAC data showed.

In the same period, foreign trade with the United States, China’s second-biggest trade partner, fell 1.9 percent, and that with ASEAN, its third-largest trade partner, declined 1.9 percent.

Machinery and electronic products as well as goods in labor-intensive sectors like textiles and toys accounted for the lion’s share of export goods and private firms still led the country’s exports.

Meanwhile, imports of large commodity goods including iron ore and crude oil continued to grow in the first nine months and import prices dropped compared with the first half of the year, customs data showed.