China Sept exports fall 3.2%, imports down 8.5%, below forecasts

China's exports in September fell 3.2% from a year earlier, customs data showed on Monday, hurt by the intensifying Sino-U.S. trade war and weakening global demand. Analysts polled by Reuters had expected exports would decline 3%, after a 1% drop in August.

Imports in September fell 8.5% from a year earlier, more than a predicted drop of 5.2% and compared with a 5.6% contraction in August. That left China with a trade surplus of $39.65 billion in September, compared with a $34.84 billion surplus in August. Analysts had forecast $33.3 billion.

Last month saw a renewed escalation in a year-long trade row, with Washington imposing 15% tariffs on more than $125 billion in Chinese imports from Sept. 1, and Beijing hitting back with retaliatory levies. Following talks last week, U.S. President Donald Trump on Friday outlined the first phase of a deal to end the trade war and suspended a threatened tariff hike set for Oct. 15, but officials on both sides said much more work needed to be done before an accord could be agreed.

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