(NBS) China posted a 28.1% year-over-year surge in exports in September, higher than the forecasted 21% increase, boosted by robust global demand. August’s exports rose by a lower 25.6%.
The surge in exports helped China to post a trade surplus of $66.76 billion in September, up from $58.34 billion in August and a forecasted surplus of $46.8 billion. The trade surplus with the US was $42 billion, up from August’s $37.68 billion.
Imports surged by 17.6%, below August’s uptick of 33.1%, to miss an expected expansion of 20%.
Analysts now expect solid Chinese exports to offset weaknesses in factory activity, slowing property sector, and low consumption.
Some analysts still warn that power rationing in September could constrain production and increase cost pressures on Chinese manufacturers in the months ahead. Other analysts are optimistic the headwinds will subside as global supply chains improve and recovery takes shape.
CSI 300 is up +1.15%, USDCNY is down -0.02%.
