Global demand holds up and supports Chinese exports, which grew faster than expected in August, +25.6 percent. Imports rose 33.1% year-on-year, beating forecasts of 26.8% in the Reuters poll. Compared to the 28.1% growth in July, Beijing can better deal with the consequences of the return contagions of the Delta variant, the increase in raw material prices and the costs associated with the campaign to keep the real estate bubble at bay in the coming weeks and cutting pollution levels.
Shipments on the rise
Shipments from China, the world‘s largest exporter, increased at a faster rate (+ 25.6%) than expected in August, from a 19.3% increase in July. Reuters analysts had forecast growth of 17.1%.
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Exports in August – according to data from Chinese Customs – showed that, despite a higher basis of comparison than last year, the ongoing global recovery is proceeding, thus limiting the impact of the new outbreak of the pandemic.
Imports increased by 33.1%, beating the projected increase of 26.8%.
As a result, China posted a trade surplus of $ 58.34 billion in August, compared to the survey’s forecast of $ 51.05 billion ($ 56.58 billion in July).