European Investor
10 Nov 2026, 09:04
China Trade Surplus Narrows in October as Import Growth Outpaces Exports
China’s trade surplus narrowed sharply in October to $105.28 billion, well below the $126.50 billion forecast and down from $133.53 billion previously.
Imports surged 41.6% year over year, significantly stronger than the 32.0% forecast and 31.0% previous increase, pointing to a notable acceleration in domestic demand for foreign goods.
Exports also remained strong, rising 35.2% from a year earlier. That was above the 33.5% forecast but slower than the previous 36.3% increase.
The smaller trade surplus therefore primarily reflects imports growing faster than exports rather than weakness in overseas shipments. The data offer a relatively constructive signal for domestic demand, although the sharp narrowing in the surplus could reduce the net contribution of trade to economic growth.
China’s trade surplus narrowed sharply in October to $105.28 billion, well below the $126.50 billion forecast and down from $133.53 billion previously.
Imports surged 41.6% year over year, significantly stronger than the 32.0% forecast and 31.0% previous increase, pointing to a notable acceleration in domestic demand for foreign goods.
Exports also remained strong, rising 35.2% from a year earlier. That was above the 33.5% forecast but slower than the previous 36.3% increase.
The smaller trade surplus therefore primarily reflects imports growing faster than exports rather than weakness in overseas shipments. The data offer a relatively constructive signal for domestic demand, although the sharp narrowing in the surplus could reduce the net contribution of trade to economic growth.
