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Chinese imports and exports see significant decline in September

Imports and Exports | | MIC Customs Solutions |

China's international trade performance fell significantly below expectations in September 2016, sparking fresh fears about the state of the global market.


Confidence in global trading markets has taken a hit following the publication of disappointing international trade data from China for September 2016.

Official figures from the Asian superpower showed that Chinese exports in September fell ten per cent in dollar terms and imports fell 1.9 per cent, resulting in a trade surplus of $41.99 billion (€38.12 billion).

A Reuters poll of analysts had predicted that exports would only fall by three per cent, while imports had been forecast to rise by one per cent year on year, following the improvement seen in August. As such, the actual results came as a significant disappointment.

Weakening demand both domestically and abroad was responsible for the September slump, while a depreciation in the Chinese yuan saw the currency hit a six-year low against the improving US dollar on Thursday.

The results will add fuel to expectations that global trading conditions are likely to remain sluggish for some time.

Luis Kujis, head of Asian economics at Oxford Economics in Hong Kong, said: "This comes on the heels of weak South Korean trade data, and it definitely make us worry about to what extent global demand is improving."


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Multinational companies are facing greater compliance challenges when addressing the continuously evolving international legal requirements. Customs and trade compliance management has a significant impact on production location and purchasing decisions, delivery times, cost savings and competitive advantages. Thus, it is crucial to establish processes that are accurately, effectively, and efficiently managed utilizing proven global IT solutions.

The international requirements for companies regarding customs and trade compliance management are complex and subject to ongoing legal changes covering a multitude of topics, such as: Correct product classification, compliance with export control regulations, numerous sanction list screenings, calculation of origin based on ratified free trade agreements, supply chain security initiatives, and management of special customs regimes as part of the import and export clearance processes. In addition, country-specific legal requirements that include legislative and technical changes make it increasingly difficult to completely fulfill the requirements of international customs and trade compliance.

A partnership with MIC strengthens a company’s ability to deal with the daily operational challenges of international customs and trade compliance management. MIC has a trendsetting Global Trade Management (GTM) software solution that allows companies to standardize and automate their customs and trade compliance processes. MIC’s software solution is available on 6 continents and can be configured according to the company’s specific needs to significantly improve legal compliance, thus saving time, money, and eliminating future business disruptions.

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There are various customs regulations and requirements programs throughout the world. Examples include ACE, FTZ and Duty Drawback in the USA, IMMEX in Mexico, the Union Customs Code (UCC) in the EU (and its various national characteristics), the Free Zone in Thailand, and the China Single Window. All of these have the objective of making customs procedures simpler, more modern and more efficient.

MIC Global Trade Management (GTM) software helps companies maintain international visibility and to take advantage of these program changes in legislation. We know the intricacies of national and regional customs and export control requirements. Our software takes account of the respective regulations and uses similarities in global customs and export control law. This is done in 55+ countries on 6 continents with regularly updated trade content for 150+ countries. In addition, our data analytics & visualization tool enables improved decision making by identifying optimization potentials and supply chain trends across global customs and trade compliance processes. As a result, global business processes can be designed and automated more efficiently. This not only increases compliance, but also saves time, money and increases global competitiveness.

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