China's export growth slows further

China's export growth in October slowed for a second straight month in the wake of the European debt crisis.

China's customs authority put October exports at 157 billion dollars. That's up nearly 16 percent from the previous year, but down 1.2 points from September.

China attributes the slower growth to fewer orders in the manufacturing sector due to the eurozone crisis. Europe is China's largest trading partner.

October imports stood at 140 billion dollars, up nearly 29 percent on the year.

The country's trade surplus was 17 billion dollars, exceeding 10 billion dollars for the seventh consecutive month.

With China's trade surplus remaining high, the United States is likely to continue to seek more flexibility in the value of the Chinese yuan.

Thursday, November 10, 2011 14:49 +0900 (JST)