China's October exports accelerate, boosted by US demand
In October, exports to the United States gained 22.5% over a year ago to $43.8 billion, up from the previous month’s 20.5% growth. Imports of American goods jumped 33.4% to $12.5 billion, an increase from September’s 24.5% growth.
China’s export growth accelerated in October, boosting the total so far this year back above pre-coronavirus levels for the first time. Exports in October rose 11.4% over a year earlier to $237.2 billion, up from September’s 9.9% gain, customs data showed Saturday. Imports rose 4.7% by value to $178.7 billion, decelerating from the previous month’s 13.2% surge, though volumes of some goods increased.
China’s exporters have benefited from the relatively early reopening of the second-largest global economy and demand for masks and other medical supplies. That has allowed them to take market share from foreign competitors that are hampered by anti-disease controls.
China’s monthly global trade surplus swelled 35.8% over a year earlier to $58.4 billion, one of its biggest on record. China is on track to become the only major economy to grow this year while activity in the United States, Europe and Japan shrinks.
https://abcnews.go.com/International/wireStory/chinas-october-exports-accelerate-boosted-us-demand-74072567
