China's Export Continue To Rise; Imports Rebound
13 October 2020 - 12:53PM
RTTF2
China's exports continued to expand as global industrial
operations resumed gradually and imports rebounded in September
driven by robust domestic demand, official data revealed on
Tuesday.
Data from the General Administration of Customs showed that
exports grew 9.9 percent year-on-year, faster than the 9.5 percent
increase seen in August but slightly slower than economists'
forecast of 10 percent growth.
At the same time, imports advanced 13.2 percent in September, in
contrast to a 2.1 percent decline a month ago. Imports were
forecast to rise marginally by 0.3 percent.
Consequently, the trade balance showed a surplus of $37 billion
compared to the expected level of $58 billion. The surplus totaled
around $58.9 billion in August.
In the near-term, infrastructure-led stimulus looks set to
continue which, alongside a gradual recovery in oil prices, is
likely to keep imports strong, Julian Evans-Pritchard and Sheana
Yue, economists at Capital Economics, said.
Meanwhile, exports should continue to benefit from the recovery
in global demand, the economists noted.
Data revealed that the trade with the U.S. resulted in a surplus
of about $30.8 billion in September.
In yuan terms, exports increased 10.2 percent year-on-year and
imports advanced 4.3 percent in the third quarter.
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