China’s trade surplus reaches $938 billion as exports surge 36.3% and as pressure mounts for it to rebalance trade with Europe
Source: Fortune ·
Its exports surged 36.3% in September from a year earlier, helped by semiconductors and autos
From the source
China’s exports surged 36.3% in September from a year earlier, its customs agency said Wednesday, bringing it on track to exceed last year’s record trade surplus as pressure ramped up from its trading partners, including the European Union, to rebalance trade. The exports data, which was better than what economists had expected, accelerated from the 25% growth in August. High-tech goods such as semiconductors and autos have helped fuel its rising shipments overseas. September’s export growth pace was the fastest since February, according to FactSet data. Imports climbed 31% in September year-on-year, also accelerating from August’s 28.2% rise. Still, China recorded a $133.5 billion trade surplus last month, widening from $119.1 billion in August. For the first nine months, China’s trade surplus reached $938 billion, with expectations growing that it could surpass last year’s full-year $1.2 trillion record. Strong exports have helped drive China’s overall economic growth this year, at…