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China October exports rise 35.2%, imports 41.6% as surplus hits April low
CNBC reports Chinese customs data showed October goods exports up 35.2% and imports up 41.6% from a year earlier, both above forecasts, while the trade surplus fell to $105.3 billion.
- New headline Was: “China exports, imports soar past expectations in October — surplus narrows sharply”
- Our desk filed its story
China's goods exports rose 35.2% in October from a year earlier and imports rose 41.6%, both above forecasts in a Reuters poll cited by CNBC, according to official data released Monday, while the trade surplus narrowed1.
Export growth slowed from 36.3% in September but exceeded the 33.5% increase expected in that poll, CNBC reported1. Imports jumped from 31% growth in September and beat estimates for a 32% rise1.
The surplus fell to $105.3 billion in October, the lowest since April, according to LSEG data cited by CNBC, with the year-to-date surplus at $1.04 trillion compared with a record $1.2 trillion for all of 20251.
CNBC said trading partners have pressed Beijing to boost domestic demand1. It said strong exports have allowed policymakers to rely on moderate support toward an annual growth target of 4.5% to 5%, while household consumption stayed soft, with retail sales up 1.1% in September1.
Much of the export surge reflects demand for chips and other artificial intelligence-related hardware, CNBC reported, adding that a slowdown in the global AI buildout could dent momentum1. A China Beige Book survey showed new domestic and export orders for goods slowed in October from a year earlier, and official PMI data showed factory activity unexpectedly shrinking last month as overseas orders cooled1. The New York research firm said in an Oct. 30 note, "The stronger side of the economy got weaker"1.
Washington and Beijing agreed in September to extend a broader trade truce by two months to January, along with other measures including export-control waivers for certain critical minerals and special port fees, CNBC said1. Chinese President Xi Jinping and President Donald Trump are expected to meet at the APEC leaders' summit in Shenzhen next week1.
The European Union reached an agreement with Beijing last month to limit imports of Chinese hybrid vehicles, with measures taking effect Dec. 1, CNBC reported1. Analysts cited by CNBC said the cap of 350,000 imported cars a year is above the 300,000 hybrids China exported to Europe last year but below an 800,000-unit annualized pace over the last three months, according to Brad Setser of the Council on Foreign Relations1.
