China’s imports and exports fell more than expected in September, official data showed today, as cooling demand at home and abroad hit trade. According to data from the customs administration, globally, China’s exports dropped 3.2 per cent in September from the same period last year, while imports dived 8.5 per cent.
The figures were worse than a Bloomberg forecast, which estimated exports to drop 2.8 per cent and imports fall 6.0 per cent. The European Union has also replaced the United States as China’s top trading partner amid a bruising tariffs spat, with imports from the US down 26.4 per cent on-year in September.