China’s trade surplus in September 2023 narrowed to USD 77.71 billion from USD 82.67 billion in the same period the previous year, but it exceeded market forecasts of USD 70 billion, as both exports and imports declined at the same rate, reflecting persistent weak demand both domestically and internationally. Exports fell by 6.2% year-on-year, marking the fifth consecutive month of decline, which was better than the market consensus of a 7.6% drop. Meanwhile, imports declined by 6.2%, which was broadly in line with the expected 6% drop and marked the seventh consecutive month of decrease. The trade surplus with the United States widened to $33.2 billion in September from $33.1 billion in August.
