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China's trade surplus in September was 278.35 billion yuan (41.99 billion dollars), lower than the previous value of 346 billion yuan (52.05 billion dollars), and economists forecast of 300 billion yuan.
The data on the trade balance published by the People's Bank of China reflects the difference between exports and imports of goods and services. A positive value shows trade surplus, a negative - deficit. This data can cause a spike in volatility of the yuan. As China's economy has a strong impact on the world's GDP, this indicator also has an impact on the Forex market.
China's imports in yuan, year on year, increased by 2.2%, but the growth was lower than the previous value of 10.8% and economists' expectations of 5.5% in September. The volume of exports in RMB decreased by -5.6%, year on year, after increasing by 5.9% a year earlier. Economists had forecast the growth rate at 2.5%
The total volume of Chinese imports in the period from January decreased by 1.9% yoy to September this year, after rising by 1.5% a year earlier. Total exports declined in September, year on year, at -10.0%, after declining 2.8% previously.
The report by the Customs General Administration of China said that China had continued to face relatively greater difficulties, however, leading indicators suggest that the pressure on the exports are likely to weaken in the fourth quarter. Also the office was confident that China will pursue a policy of stabilizing the growth of foreign trade.
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