October trade surplus was high in the year

Import and Export data released 10th by the General Administration of Customs showed that exports of 135.98 billion U.S. dollars in October Rose 22.9%, slowing 2.2% from last month, importing 108.83 billion U.S. dollars and increasing 25.3%, up 1.2% from last month.　　The trade surplus was the second highest in the year to 27.15 billion U.S. dollars, the chain significantly increased by 60%.　　Analysts pointed out that the October surplus of the month was mainly due to imports less than expected, the trend is not sustainable, in November, the surplus will appear must fall.　　Gao Shanwen, chief economist for imports below expectations, said that, overall, China's imports and exports have emerged from the impact of the global financial crisis, is returning to normalization, and is expected to return to normal levels, China's imports and exports should be maintained at 10%-20% growth level. According to customs statistics, January-October, China's import and export value of 2,393,410,000,000 U.S. dollars, an increase of 36.3%, import and export scale has exceeded last year's level.　　The export and import scale also exceeded last year's annual level, exports 1,270,590,000,000 U.S. dollars, the growth 32.7%, imports 1,122,820,000,000 US dollar, the growth 40.5%, the trade surplus is 147.77 billion dollars. It is noteworthy that imports in October were weaker than expected, leading to an unexpected rise in the trade surplus. The value of imports for the month of October was only $108.8 billion, down 10% from the average in the past three months, the lowest since March this year. Haitong Securities analysis that the slowdown in domestic investment is one of the reasons for the decline in imports this month, but the seasonal factor is even more important.　　In the past years, imports in October almost always decline, the range is generally more than 10%, and October this year, only 17 working days, compared to September 5, so the chain down 15% more easy to understand.　　Export growth steady decline in October exports year-on-year growth rate of 22.9% basically in line with market expectations, but the chain to see October less than September working days, the chain down 6.2%, more than in previous years 2%-5% decline. Lu Zhiming, a researcher at the Financial Research Center of Bank of Communications, said that from the external environment, emerging market countries to take interest rates, local competitive devaluation and other measures, while the internal environment, the continued pressure of appreciation of the renminbi and export enterprises to narrow the profit margin, multiple factors, China's export demand space will narrow.　　He expects exports to stabilise in November and to increase the annual export growth forecast to around 28% per cent, with imports looking at a gradual rise in international commodity prices, which could be followed by higher import costs in the short term, a steady increase in import growth and a certain fall in the trade surplus. Customs statistics show that in the first 10 months of this year, the trade deficit of 33.6 billion U.S. dollars, compared with the same period in 2009 increased 12.9 times times. In the same period, processing trade surplus of 256.12 billion U.S. dollars, the growth of 21.3%, equivalent to the total surplus size 1.7 times times the same period.　　Sub-products Look, High-tech products export better, traditional export products continue to decline. The Ministry of Commerce previouslyForeign trade is expected to maintain growth in the four quarter of this year, but the year-on-year growth rate will continue to fall. Annual imports and exports of about 2.8 trillion U.S. dollars, up from last year about 25%. Although foreign trade will keep increasing in 2011, the growth rate of China's foreign trade is likely to fall due to the increase of currency game and the rising of trade protectionism, and the continued rise of domestic cost and business risk. (Lu Ying)