BEIJING—China’s trade surplus with the U.S. and the rest of the world widened in October as the global recovery buoyed demand for made-in-China goods, helping export growth beat market expectations for a seventh straight month.
China’s exports rose 11.4% from a year earlier in October—higher than the previous month’s 9.9% increase and topping economists’ projections for a 9.0% gain—according to data released Saturday by China’s General Administration of Customs.
China’s imports, meantime, rose by a more modest 4.7% in October from a year earlier, down from September’s 13.2% increase and lower than the 8.3% increase expected by surveyed economists.
Taken together, the trade data meant China’s trade surplus ballooned to $58.4 billion in October, from $37 billion the previous month, according to official data. Economists had expected China to record a $47.8 billion surplus.
China’s outbound shipments have defied market expectations since April, as the nation’s factories began coming back online. In recent months, overseas sales of pandemic-related medical gear and work-from-home computer products have remained surprisingly resilient, serving as twin pillars for China’s export sector. That has helped the world’s second-largest economy shrug off expectations for a tapering off of overseas sales as other exporting countries come back online.
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