China Balanza Comercial

China's trade surplus jumped to USD 95.27 billion in October 2024 from USD 56.13 billion in the same period a year earlier, surpassing expectations of USD 75.1 billion. It was the largest trade surplus since June, mainly due to a jump in exports. Sales surged 12.7% yoy, far above forecasts of 5% to mark the fastest pace since July 2022 and after a 2.4% gain in September, as manufacturers are front-loading orders in anticipation of further tariffs from the US and the EU. Meanwhile, imports fell 2.3%, reversing from a 0.3% rise in September and missing consensus of a 1.5% fall due to weak domestic demand. The trade surplus with the US widened slightly to USD 33.50 billion in October from USD 33.33 billion in September. For the 1st ten months of 2024, the trade surplus was at USD 785.3 billion, with exports rising 5.1% to USD 2.93 trillion while imports grew at a softer 1.7% to USD 2.14 trillion. During the period, the trade surplus with the US stood at USD 291.38 billion.