China's exports rise 27%, trade surplus tops $84 bn

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

The country's customs agency said Sunday that exports totaled 300.2 billion, up 27.1% from a year ago. That was down from a 28.1% increase in September but still healthy. Imports came in at 215.7 billion, a 20.6% 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. The world's second-largest economy grew 4.9% in the three months ending in September, down from 7.9% in the previous quarter.

China's trade surplus in October was 84.5 billion, up from 66.8 billion the previous month, the customs agency said. 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.

China and the U.S. are mired in a trade war that dates from the administration of former President Donald Trump. The U.S. imposed tariffs on Chinese products, and China retaliated with tariffs on American ones.