China says imports and exports surged in August
Exports jumped 25% and imports surged 28.2% year-on-year, said the General Administration of Customs.
Beijing: China's imports and exports experienced a significant surge in August, according to official data released on Tuesday. The General Administration of Customs (GAC) reported that exports grew by 25% year-on-year, marking a slight acceleration from July's 23.9% growth. However, the increase was slightly below a Bloomberg forecast of 25.9%.
Conversely, imports surged 28.2% year-on-year, outpacing July's 27.5% growth but falling short of a Bloomberg forecast of 31.0%. In January through August, China's exports of computers and related parts saw a remarkable 49.4% increase, according to GAC data. Shipments to the United States witnessed a 34.4% year-on-year rise in August, compared to a 17% increase in July.
These figures were disclosed before an anticipated high-stakes summit in Washington this month, where presidents Donald Trump and Xi Jinping are expected to meet.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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