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China’s exports unexpectedly shrink in October, badly missing expectations for growth



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A cargo ship carrying containers is seen near the Yantian port in Shenzhen, following the novel coronavirus disease (COVID-19) outbreak, Guangdong province, China May 17, 2020.Martin Pollard | ReutersBEIJING — China’s exports fell by 0.3% in October from a year ago, missing Reuters expectations for a 4.3% increase.The decline in U.S.-dollar terms last month marked a sharp decline from a 5.7% year-on-year increase in September, and the first year-on-year drop since May 2020, according to Refinitiv Eikon data.Imports fell in October by 0.7% in U.S.-dollar terms, also missing expectations for slight growth of 0.1% and down from a 0.3% increase in September.China’s trade with countries and regions was only available in yuan terms on a year-to-date basis as of Monday morning. The U.S. remained China’s largest trading partner on a single-country basis, the data showed.For the year through Oc …

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