Baku. 8 November. REPORT.AZ/ China's exports in October 2016 fell by 7.3% to 178.2 bln USD, while imports decreased by 1,4% in last 1 year and amounted to 129.1 bln USD. Report informs referring to the Russian media, China's General Administration of Customs informed.
Notably, according to the poll conducted by 'Reuters' agency, analysts predicted decline in exports by 6%, while imports by 1%. In September, China's exports decreased by 10%, while imports by 1.9%.
As a result, the trade surplus amounted to 49.6 bln USD. Foreign trade turnover decreased by 4.9% in annual comparison and amounted to 307.3 bln USD. Notably, in 2015, China's foreign trade surplus amounted to 594.5 bln USD.
Analytical Group of Report believes, though the weakening of China's foreign trade will be balanced with the increase of domestic demand, the country's economic activity will continue to decline. An increase in domestic demand, in turn, began to create serious consequences.
Government in order to revive the internal market increased lending and that has led to a sharp increase of prices in real estate market. Every moment this process can reach the point of "explosion". At that time, China's national currency could face serious consequences that ultimately will drag the world economy to the crisis. China's economic problems are likely to occur in 2017.