China’s exports fall in October as firms wait out trade war reset

China’s exports fell in October amid a volatile trade war with the United States – though recent high-level talks between the world’s two largest economies have since eased tensions.

Outbound shipments fell 1.1 per cent year on year to US$305.35 billion last month, customs data showed on Friday.

The figure was lower than September’s 8.3 per cent increase – a six-month high – and fell short of the 2.84 per cent growth forecast by Chinese financial data provider Wind.

Imports in October stood at US$215.28 billion, rising 1 per cent year on year from September’s 7.4 per cent and missing Wind’s 4.49 per cent forecast. China’s trade surplus came in at US$90.07 billion.

Zhang Zhiwei, president and chief economist at Pinpoint Asset Management, attributed the decline in exports to previous front-loading.

“The exporters in China have been front-loading their trade in order to avoid high tariffs in the US. It seems the front-loading finally faded in October,” Zhang said.