Chinese authorities praise September. “There has been a significant increase in exports and imports”

Exports from China increased by 8.3% in September. year to year – according to data from the General Administration of Customs in Beijing published on Monday. This is the largest increase since March and a significant acceleration compared to the August result of 4.4%. Imports also surprised, growing by 7.4%.

The latest export data significantly exceeded the forecasts of both Reuters and Bloomberg, whose analysts expected growth of 6-6.6%. In turn, in the case of imports, they predicted an increase of 1.9%.

Reuters believes that these results show that Chinese producers are successfully diversifying their markets in the face of the trade conflict with the US.

“Chinese companies are actively entering new markets, taking advantage of the relative cost advantage of their goods,” said Xu Tianchen, senior economist at the Economist Intelligence Unit. He added that “the United States currently accounts for less than 10% of China's direct exports.”

Nevertheless, last month China sent goods worth $34.3 billion to the United States, an increase of 8.6%. compared to August – data from the General Customs Administration show.

The increase in exports comes in the context of a threat of another escalation of customs and trade tensions between the world's two largest economies. Last week, US President Donald Trump announced the imposition of additional 100% tariffs on imports from China. This was a response to the decision of the PRC authorities to limit the export of several rare earth metals.

Despite good commercial results, China's trade surplus fell to $90.45 billion in September from $102.33 billion in August, which may indicate continued weak domestic demand. However, the Chinese authorities are trying to support the economy, announcing, among others, investment programs worth 500 million yuan ($70.15 million).

From Beijing Krzysztof Pawliszak (PAP)

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