China's Exports unexpectedly dropped in September, but even so, its Trade Surplus expanded, as imports tanked more-than-expected.
China's Exports or outbound shipments in the Yuan terms fell by 0.7% year-on-year in September, the official data released a few minutes before press time showed.
The outbound shipments were forecasted to rise by 1.5%. The Exports had risen by 2.6% in the preceding month.
Meanwhile, Imports or inbound shipments tanked by 6.2% year-on-year in September. The market was expecting a 2.3% drop following August's 2.6% slide.
Hence, Trade Surplus expanded to CNY 280 billion in September from August's 239.6 billion.
The slide in Imports indicates a weakening of domestic demand conditions. As a result, fears of a deeper economic slowdown may resurface, possibly triggering risk aversion in the global markets.
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