China’s Sept Exports Down 6.2%, Imports Also Drop 6.2% with Pace of Contraction Slowing

Reuters file photo
Trucks travel past containers at the Yangshan Deep Water Port in Shanghai on Jan. 13, 2022.

BEIJING (Reuters) — China’s exports for September shrank by 6.2% from a year earlier, while imports also declined by 6.2%, customs data showed on Friday, both contracting at a slower pace and adding to recent evidence that the world’s second-biggest economy is stabilizing.

A Reuters poll of economists had forecast a fall of 7.6% in exports and a drop of 6% in imports.

The $18 trillion economy has shown signs of improvement recently, thanks to a slew of support measures released by policymakers in recent months, but the crisis-hit property sector remains an impediment to a solid recovery.

China posted a trade surplus of $77.71 billion in September, compared with a $70 billion surplus expected in the poll and $68.36 billion in August.