China recorded a better-than-expected trade surplus of $45.41 billion in October, expanding 46.3 per cent from the same month last year, the General Administration of Customs said on today.

Exports jumped 11.6 per cent year-on-year to $206.87 billion in October, while imports rose 4.6 per cent to $161.46 billion, it said.

The trade surplus last month exceeded market expectations for a $42.3 billion surplus, according to a survey of 11 economists polled by The Wall Street Journal.

October’s surplus also widened from the $31.0 billion recorded in September, though it was off the record $49.8 billion recorded in August, previous figures showed.

Export growth slowed in October from a 15.3 per cent year-on-year rise in September, in what could be a worrisome sign for the world’s second largest economy. Exports are a key engine of China’s economic growth, which has faltered this year.

Import growth remained weak in October, slowing from 7.0 in September.

China’s economy grew an annual 7.3 per cent in the third quarter, the slowest in more than five years since the global crisis struck in early 2009.

The country’s economy has been hit by a deflating property bubble as well as a government crackdown on corruption and weak demand from Europe.

The government has set an economic growth target of around 7.5 per cent for this year.

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