China’s Exports Fell in September

China and the United States reached a partial trade deal on Friday, October 11, with the US agreeing to forgo further tariff escalation in exchange for China agreeing to resume purchases of US farm products. However, even if trade terms improve between the countries, recent preliminary figures released by China’s customs office suggest Chinese exports hurt by the trade war will need time to recover to 2018 levels.

• Since the beginning of 2019, China exported $312 billion to the United States, 10.7 percent less than during the same period of 2018.
• China’s exports denominated in US dollars decreased 3.2 percent in September compared to the same month one year ago. Imports decreased even more, dropping 8.5 percent over the same period.
• The decline of total exports was led by sluggish exports to the United States, which decreased 22 percent in September compared to the same month one year ago.

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