Foreign trade in China shows stronger growth last month

(MENAFN) China's foreign trade showed stronger growth in October, signaling a boost in economic momentum. Total imports and exports of goods increased by 4.6 percent year on year in yuan terms, a significant improvement from the 0.7 percent growth in September. This uptick reflects a recovery in trade activity, with both exports and imports contributing to the growth.

For the first 10 months of the year, China's foreign trade amounted to 36.02 trillion yuan (about 5 trillion U.S. dollars), representing a 5.2 percent increase compared to the same period last year. Exports grew by 6.7 percent, while imports saw a more modest rise of 3.2 percent. This solid performance underscores China's resilience in global trade.

Lyu Daliang, the director of the General Administration of Customs (GAC)'s Department of Statistics and Analysis, expressed confidence that China could meet its foreign trade goals for the year. He emphasized that the focus is on achieving improved quality and stable volume, pointing to the country’s capacity to maintain steady trade growth despite global uncertainties.

The positive trade figures align with China’s broader economic recovery efforts, indicating that foreign trade will continue to be a key driver of growth in the coming months. The expansion in exports suggests that Chinese products remain in demand globally, while the rise in imports reflects healthy domestic consumption.

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