China recorded a trade surplus of $84.54 billion in October, with its surplus with the United States exceeding $40 billion. According to data from Chinese customs released on Sunday, China's exports in October rose by 27.1% compared to the same period last year. This percentage exceeded analysts' expectations, who had predicted a 24.5% increase in October exports after a 28.1% jump in September. In contrast, China's imports in October surged by 20.6%, while estimates in the survey indicated that imports would rise by 25%, following a 17.6% increase in September.
In the past October, China recorded a trade surplus of $84.54 billion, compared to the survey's expectation of a trade surplus of $65.55 billion, after posting a surplus of $66.76 billion in September. Calculations by Reuters, based on Chinese customs data, revealed that China’s trade surplus with the United States amounted to $40.75 billion in October, down from $42 billion in September. In the first ten months of the year, the surplus totaled $320.67 billion.
U.S. Trade Representative Katherine Tai pledged in October to exclude some Chinese imports from tariffs while pressing Beijing over its failure to fulfill certain commitments in the "Phase 1" trade agreement made during Donald Trump's administration.
Regarding China's foreign exchange reserves, data released by the People's Bank of China on Sunday indicated that these reserves reached $3.218 trillion at the end of October. It is noted that China’s foreign exchange reserves are the largest in the world, according to Reuters. Additionally, China’s gold reserves at the end of October amounted to $110.83 billion, up from $109.18 billion in September, attributed to rising gold prices.
