China’s trade surplus narrowed to a disappointing USD15.2 billion in September from USD28.6 billion in August, customs figures showed yesterday. Exports fell 0.3% year on year to USD185.64 billion last month, while imports increased 7.4% to USD170.44 billion.

The September trade result was worse than expected with a survey of nine analysts surveyed by Dow Jones Newswires forecasting a trade surplus of USD27 billion.

China’s trade performance is a key element of the country’s economic growth figures, the latest of which for the third quarter through September are due for release next Friday. A string of strong data in recent months, including for exports and industrial output, have suggested quarterly growth may accelerate, spurring optimism following a surprise downturn during the first half of the year.

For the first nine months of the year, exports increased 8% to USD 1.61 trillion, while imports increased 7.3% to USD1.45 trillion. Mr Zheng Yuesheng an official at China’s General Administration of Customs The trade surplus for the period stood at USD169.4 billion, up 14.4%, the figures showed. The three-quarterly figures were described as “a trend of low, yet stable growth. He added that “Trade with the EU and Japan suggested upward momentum, as the trade with the US and ASEAN (the Association of Southeast Asian Nations) continued to climb.”

China, a major driver of the global economy, is coming off its worst annual economic performance since 1999 after gross domestic product managed an expansion of just 7.7% last year.