The rise in inflation, the slowdown in global demand from rising interest rates and the Kovid-19 measures had a negative impact on China's exports and imports.
In October, exports contracted by 0.3 percent compared to the same period of the previous year, while the decrease in imports was 0.7 percent. Exports, which increased by 5.7 percent in September, were expected to increase by 4.3 percent in October, while imports, which increased by 0.3 percent in September, were expected to grow by 0.1 percent.
In October, China's foreign trade surplus increased from 84.74 billion dollars in September to 85.15 billion dollars. However, it fell far behind the expectations of $ 958.95 billion.
In yuan terms, China's exports increased by 7 percent and imports by 6.8 percent in October. The trade balance was 586.81 billion yuan.