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Financial News: China's Export Continue To Rise; Imports Rebound

China's Export Continue To Rise; Imports Rebound

10/13/2020 - 01:53:00 (RTTNews)

(RTTNews) - 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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