World’s largest exporter suffering from contraction in global demand

Julian Harris
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WHILE China’s 9.1 per cent growth recorded for the third quarter of the year may have disappointed analysts -- with some still questioning the reliability of the government’s uber-fast estimates -- it is little surprise that the world’s largest exporter is facing a hit from the global economic slowdown.

The third quarter involved two months of narrowing in China’s trade surplus, with annual export growth plummeting in September – down to 17.1 per cent, from a 24.5 per cent lift in August.

Government statisticians also noted yesterday that imports growth has outpaced exports this year, possibly knocking 0.1 per cent off its GDP expansion. As real estate construction is also slowing, expect further slips in the (albeit questioned) stats in the coming months.