Fri. May 20th, 2022

China’s exports remained strong in October, a positive sign for an economy trying to weather power shortages and Covid-19 outbreaks.

FILE PHOTO: Containers are seen at the Yangshan Deep-Water Port in Shanghai, China October 19, 2020. REUTERS/Aly Song

The country’s customs agency said Sunday that exports totaled $300.2 billion, up 27.1 percent from a year ago. That was down from a 28.1 percent increase in September but still healthy. Imports came in at $215.7 billion, a 20.6-percent rise.

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 $84.5 billion, up from $66.8 billion the previous month. The surplus with the U.S. was down slightly to $40.7 billion, compared to $42 billion in September. With the EU, it was $25.9 billion.

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