China Trade Update: Exports and Imports in Focus

Tuesday, 10 September 2024, 16:00

China's trade update reveals a significant export surge, with exports rising 8.7 percent in August. However, imports remain tepid, growing only 0.5 percent. The trade surplus also expanded as global challenges loom ahead.
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China Trade Update: Exports and Imports in Focus

Exports Surge in August

China's exports rose 8.7% year-over-year in August, reaching $308.65 billion and marking the highest growth in 17 months. This data surpassed forecasts, indicating resilient export performance, despite mixed signals from purchasing managers' index surveys suggesting weaker orders.

Import Growth Stalls

In contrast, China's imports saw a modest increase of just 0.5%. The decline in import volumes points to uneven growth, with implications for trade dynamics.

Trade Balance Surplus

The August trade surplus expanded to $91.02 billion, reflecting stronger-than-anticipated export growth against slowing imports.

Key Trading Partners

  • Exports to ASEAN rose by 8.78%.
  • Shipments to the EU increased by 13.39%, the highest growth in two years.

Outlook for Exports

Experts predict that while China's exports may remain strong due to favorable exchange rates, rising trade tensions and a weakening US economy pose significant risks.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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