Chinese trade shock begins

Monday 7 November 2022

It’s going to get a lot worse in due course. Pantheon with the note.

China’s Trade Surplus Barely Rises, as Exports Slow

China’s exports were worse than expectations in October, pulled down by a sharp fall in shipments to the U.S. and E.U. The October export data for both China and Korea point to deteriorating global demand. Chinese import growth remained subdued, with domestic demand due to pandemic measures, resulting in the trade balance widening slightly, to $85.2B in October, from $84.7B in September. Exports fell 2.5%, month-to-month, seasonally adjusted, in October, after a 1.5% rise in September.= Falling sales to key markets pulled down overall exports; shipments to the U.S. plunged 3.5%, after September’s 0.8% increase, while exports to the E.U. fell 1.1%, following a 3.5% drop.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.