China Sept imports soar, exports also rise

Lloyd Doyle
October 13, 2017

China's imports grew 18.7 percent from a year earlier, official data showed on Friday, handily beating analysts' forecast of 13.5 percent and accelerating from a 13.3 percent pace in August.

Analysts polled by Reuters had expected September shipments from the world's largest exporter to have risen 8.8 percent, quickening from 5.5 percent growth in August.

The solid September readings will be welcome news for Beijing ahead of a major political leadership reshuffle next week, at which President Xi Jinping is expected to further tighten his grip on power. Imports were forecast to jump 13.5 percent in the same period.

A rebound in China's exports this year has helped support Chinese economic growth this year.

The trade surplus narrowed in September to $28.47 billion from almost $42 billion the previous month, falling short of expectations for a $37.3 billion surplus.?

Huang added that diverging monetary policies in different countries, rising global trade protectionism, a high comparison base of China's trade figures in the fourth quarter of 2016, and increasing competition posed by emerging economies are sources of trade uncertainties for the rest of this year.

"Nonetheless, today's figures suggest that not only has strong foreign demand continued to prop up manufacturing activity in China but domestic demand remains resilient, too", Mr Evans-Pritchard said. "The improvement in September comes even as cooling prices pressures should have weighed on trade values".

Other reports by Iphone Fresh

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