In August, China’s exports surged by 8.7% year-on-year in U.S. dollar terms, surpassing expectations of a 6.5% growth as reported by the customs agency. Conversely, imports only grew by 0.5%, falling short of the anticipated 2% increase from a year ago.
This contrasted with July figures, where exports increased by 7% year-on-year and imports exceeded expectations with a 7.2% rise.
Amidst a sluggish domestic demand, China’s export performance remains a positive aspect of its economy.
However, the core consumer price index in August, which excludes volatile food and energy prices, rose by 0.3% from the previous year, marking the slowest pace since March 2021 according to official data released on Monday by Wind Information.
China’s increasing reliance on exports is occurring against a backdrop of rising trade tensions with the U.S. and European Union, resulting in additional tariffs being imposed on Chinese electric cars and other goods.
