China Exports Fall Unexpectedly

(RTTNews) - China's exports declined unexpectedly in October and imports growth slowed sharply, official data revealed on Friday.

Exports dropped 1.1 percent on a yearly basis in October, in contrast to the 8.3 percent increase in September and also confounded expectations for an increase of 3.0 percent. Shipments to the US declined around 25 percent in October.

Meanwhile, imports grew 1.0 percent from the previous year. However, the pace of growth eased from 7.4 percent in September and also weaker than forecast of 3.2 percent.

As a result, the trade surplus totaled $90.07 billion, below the expected level of $96.9 billion.