China’s Exports Rise Nearly 10%

Posted October 13th, 2012 at 6:00 am (UTC-5)
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China's exports increased more than expected in September, contributing to a widening trade surplus with the rest of the world.

Figures released by the government Saturday showed exports up 9.9 percent from a year earlier, despite economic problems in Europe and the United States.

China says its imports rose 2.4 percent in September, an improvement from August when imports shrank from the previous month.

The government says the trade surplus in the world's second largest economy was $27.7 billion in September.

However, analysts say the outlook for China's trade remains uncertain because of the continued debt crisis in Europe and the slow economic recovery in the United States.

The U.S. government announced Friday that its deficit for the 2012 budget year that ended September 30 topped $1 trillion for the fourth straight year, although tax revenues were up 6.4 percent because of stronger growth.

The big question for the U.S. economy is whether the Obama administration and Congress can resolve a deadlock over the budget that threaten to erase recent gains in the economy.