China's September exports fall
An unexpected drop in exports led to China's trade surplus narrowing to a disappointing $15.2 billion in September from $28.6 billion in August, customs figures showed Saturday.
Exports fell 0.3 percent year-on-year to $185.64 billion last month, while imports increased 7.4 percent to $170.44 billion, the figures said.
The statistics could signal potential headwind for the world's number two economy, which relies heavily on global demand for its products.
Exports in August jumped 7.2 percent year-on-year to $190.7 billion. The positive figures had led analysts to point to optimism in China's economy.
However, the September trade result was worse than expected, with a survey of nine analysts surveyed by Dow Jones Newswires forecasting a trade surplus of $27 billion. Analysts say China's national holidays falling in September, along with a strong local currency, could have stalled exports.
Comments