MNI BRIEF: China's Oct Exports -1.1%; First Drop In 8 Months

China's exports decreased 1.1% y/y in October, while imports rose 1.0%, data released by China Customs showed on Friday.

Exports in October fell 1.1% y/y to USD305.4 billion, quickly down from the previous 8.3% growth and failed meeting the expectations for a 2.5% increase. Imports gained 1.0% y/y, slower from 7.4% in September and behind the 2.5% market consensus.

China’s trade surplus in October hit USD90.07 billion, smaller than the consensus of USD95.6 billion, taking Jan-Oct’s final surplus to USD964.8 billion. 

Exports to the U.S. fell 17.8% y/y from January to October, while imports declined 12.6%. Exports to the EU rose 7.5% over the same period, with imports down 2.5%.