| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 Asia Economy


How to use our RSS feed

Follow Finfacts on Twitter

Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.


Finfacts is Ireland's leading business information site and you are in its business news section.


Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News


Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News




Content Management by interactivetools.com.

Asia Economy Last Updated: Oct 14, 2013 - 3:51 PM

China’s exports unexpectedly fell in September; Inflation rises to 3.1%
By Finfacts Team
Oct 14, 2013 - 2:10 AM

Email this article
 Printer friendly page
Source: Xinhua

China’s exports unexpectedly fell in September from year earlier, pointing to fragile global demand and questions about the recording of Hong Kong trade. Meanwhile, China's consumer price index (CPI) rose 3.1% year on year in September, up from 2.6% in August, the National Bureau of Statistics (NBS) said on Monday.

Exports fell unexpectedly 0.3% in September from a year earlier, customs data showed on Saturday, ending two consecutive months of rises. Imports, however, rose 7.4% last month from a year ago, accelerating from August's 7% rise, the General Administration of Customs (GAC) said.

The trade surplus was US$15.2bn in September, compared with $28.52bn in August and 44.7% less than the same month last year.

Taking into account exchange rate fluctuations, the country's foreign trade volume rose 3.3% in September, down from August's 7.1% increase and July's 7.8% rise, said Zheng Yuesheng, a GAC spokesman, according to a report by Xinhua, the official news agency.

Despite the fall in September, Zheng expected the country's exports to maintain a stable development during the next two or three months, based on a survey of 2,000 export enterprises.

"China's dependence on external demand weakened," Zheng said, which showed the country's economic development was transforming from being driven by external demand to domestic demand.

“It’s all quite murky,” Bloomberg quotes Shen Jianguang, Hong Kong-based chief Asia economist at Mizuho Securities Asia Ltd., citing the impact of inflated export data that started late last year, fewer working days due to the timing of the Mid-Autumn Festival holiday and currency volatility in Southeast Asia. “There has been an export recovery since July to the US and Europe but it’s been pretty weak,” Shen said. “The driving force for China’s recovery at this stage is still housing and infrastructure investment.”

In the first nine months of the year, exports and imports gained 7.7% from a year earlier, with the trade surplus growing 14.4% year on year to $169.4bn.

Trade with the European Union, the nation's largest trade partner, dipped 0.8% year on year during the January-September period, compared with a 3.1% decrease registered in the first half of 2013.

Trade with the United States, China's second-largest trade partner, rose 6.7% in the first nine months, while that with ASEAN (Association of Southeast Asian Nations) members increased 11.6%.

Zheng said there were signs of recovery for Sino-Japanese foreign trade in the second half of the year, with the rate of decrease in bilateral trade easing for three straight months since July.

The country's exports to Japan edged up 1.5% year on year last month, reversing a declining trend starting from July 2012, he said.

Although September's trade data seemed to suggest a sign of weakening exports, many economists were upbeat.

China's growth slowed to 7.5% in the second quarter. It is scheduled to release third-quarter growth data this Friday.

"We expect the recovery will last until the end of the year but is likely to slow down moderately again in 2014," JP Morgan China economist Zhu Haibin said.


Xinhua reports that in the first nine months, year-on-year CPI growth stood at 2.5% on average, well below the government's full-year target of 3.5%.

Yu Qiumei, a senior statistician with the bureau, attributed the rise in September mainly to a rebound in food prices due to the holiday effect, as well as droughts and floods in some regions. Food prices account for about one-third of the CPI calculation.

Last month, food prices rose 6.1% year on year, while prices of non-food products, including clothing, home appliances and daily necessities, moved up 1.6%, according to the NBS.

"Floods in the north, high temperature in the south, as well as typhoons have affected the supply of vegetables and fruits," said Niu Li, an expert with the State Information Center (SIC).

Check out our subscription service, Finfacts Premium , at a low annual charge of €25

Related Articles
Related Articles

© Copyright 2011 by Finfacts.com

Top of Page

Asia Economy
Latest Headlines
IMF defers renminbi reserve decision; Devaluations losing firepower
Japan's trade deficit widens and GDP falls despite 33% yen devaluation
China's exports slide in July; Fx reserves dip $42.5bn in month
Chinese manufacturing PMI falls for 5th straight month in July; Japan at 5-month high
China's overseas investments to surge; Ireland got €99m of €46bn invested in EU in 2000-2014
China to overtake US economy in 2026; Income per capita will be 50% of US in 2050
Manufacturing activity in China and Japan contracted in June
China's manufacturing contracted for third straight month in May; Japan in slight rise
Asia accounts for 40% of global output, two-thirds of global growth
China's exports unexpectedly fell in April 2015 after March dip
China's growth in 2015 at slowest since early 2009
China's 2015 foreign trade continues to slide
Singapore remains world’s top location for business on 50th anniversary of independence
China's manufacturing activity fell to a 11-month low in March
China in surprise rate cut to boost sagging economy
Chinese Lunar New Year: Year of the Wood Goat begins this week
China’s manufacturing shrunk in January; Regional rise except Indonesia
Profits of Chinese industrial businesses plunged in 2014
China's growth in 2014 fell to a 24-year low
Services activity in China, Japan and India in moderate rises in December
China’s manufacturing industry remains competitive despite rising wages
China revises 2013 GDP up 3.4% to 56.5% of US economy size
China's manufacturing contracts in December; Japan's grows
China's imports slide in November; Emerging markets slow
Manufacturing PMI stalled in China in November; Fell in Korea, Indonesia , grew in India
China's manufacturing output contracted in November; Japan's accelerated
Ireland not among top 67 destinations for Chinese outbound FDI in 2014
Japan fell into recession in third quarter of 2014
Services slowed in China, contracted in Japan and stagnated in India in October
Manufacturing in South Korea/ Indonesia contracted in October; India in slight rise
Two Chinese manufacturing reports show trading near stagnation levels
Bank of Japan raises money printing target; Spending and wages plunge
China's manufacturing stagnates, Japan in moderate growth
China’s economy in third quarter grew at slowest pace in five years
Chinese exports jump in September; "Sadness will return soon"
World Bank cuts growth forecasts for developing East Asia including China
Japanese business confidence slightly improves; Manufacturing sector weak
Developing Asia remains fastest-growing region in world in 2014
Chinese manufacturing PMI rose slightly in September
Japan reports 26th straight monthly trade deficit; Public debt tops ¥1,000tn