Exports and imports are much higher than a year ago, when much of the world was in the throes of the COVID-19 pandemic, but there is widespread concern that economic headwinds are slowing growth.
China’s economy has been buffeted by the government’s tough COVID-19-related restrictions, which have depressed domestic travel and consumer demand, and power shortages that have pushed down factory production. Regulators are also cracking down on debt-laden real estate developers, slowing the housing market.
China’s trade surplus in October was USD 84.5 billion, up from USD 66.8 billion the previous month. The surplus with the US was down slightly to USD 40.7 billion, compared to USD 42 billion in September. With the EU, it was USD 25.9 billion.