China’s export growth slowed to its weakest pace in six months in August, with exports to the United States plunging sharply while gains in other markets offered some relief.
Customs data released on September 8 show exports rose 4.4% year‑on‑year in August, marking a six‑month low and falling short of economists’ 5% forecast in a Reuters poll. In July, growth had reached 7.2%. Imports increased by 1.3%, also missing the projected 3% and trailing behind July’s 4.1% rise.
“I would say the number is still decent, and the resilience of exports has certainly lasted longer than we had expected,” commented Xu Tianchen, senior economist at the Economist Intelligence Unit.
Exports to the US fell by 33.12% year‑on‑year in August, whereas exports to Southeast Asia surged by 22.5%, signaling a shift toward alternative markets.
China’s trade surplus stood at USD 102.3 billion in August, up from USD 98.24 billion in July but still below June’s USD 114.8 billion.
Authorities have refrained from launching broad fiscal stimulus. Instead, they are relying on tools like policy bank credit and monetary easing to aim for the annual growth target of around 5%.
Source: vneconomy.vn
