China’s exports unexpectedly accelerated in August, freeing up from the global rebound of the new crown epidemic, port congestion and supply bottlenecks.
Data released by the General Administration of Customs of China on Tuesday showed that China’s exports in August increased by 25.6% year-on-year, higher than the 19.3% increase in July. This result easily exceeded the 17% increase expected by economists surveyed by The Wall Street Journal.
Based on official data calculations, the year-on-year growth rate of China’s exports to major trading partners in August accelerated compared with the previous month. In August, China’s exports to the EU, its second largest trading partner, increased by 29.4% year-on-year, which was faster than the 17.2% growth rate in July. At the same time, China’s exports to China’s largest trading partner, the Association of Southeast Asian Nations (ASEAN) and the third largest trade partner The export of partner United States increased by 16.6% and 15.5% respectively.
Economists previously predicted that exports will slow in August due to the outbreak of the new crown delta strain-related epidemic, which has spread to more than half of China’s provinces, and prompted the government to take strict measures to hit both supply and demand.
…
.