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China's October exports rise 11.6%, imports up 2.4%


15:05, November 10, 2012

BEIJING, Nov. 10 (Xinhua) -- China's trade surplus widened in October as growth of exports accelerated while that of imports remaining steady, data from the country's customs showed Saturday.

China's exports rose 11.6 percent from one year earlier in October, beating market expectations for a rise of 9 percent and stronger than the 9.9-percent increase registered in September, according to the General Administration of Customs.

Imports climbed 2.4 percent year on year last month, unchanged from the growth in September.

This resulted in a widening trade surplus of 31.99 billion U.S. dollars in October, compared with 27.67 billion U.S. dollars in September and 26.66 billion U.S. dollars in August.

In the first ten months, the country's foreign trade volume expanded 6.3 percent from the same period of last year, the administration said.

China targets 10 percent growth in total foreign trade this year, a figure which officials concede is going to be hard to achieve.

Minister of Commerce Chen Deming on Saturday warned of lingering pressure on the country's foreign trade from weak global demand, rising domestic costs and growing trade protectionism.

China's trade volume with the European Union, the nation's largest trade partner, fell 3 percent to 452.83 billion U.S. dollars in the first ten months while that with the United States, the second-largest trade partner, climbed 9.1 percent to 396.09 billion U.S. dollars.

Trade with Japan declined 2.1 percent from one year earlier to 275.47 billion U.S. dollars during the January-October period.

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