Business & Finance
China's trade surplus widened to $119 billion as August exports grew 25%
Export growth remained strong while import gains fell short of expectations, expanding the monthly trade gap.
The short version
- China's customs data showed exports rose 25% year-on-year in August, while imports climbed 28.2%, missing a Reuters poll forecast of 30%.[CNBC · Associated Press]
- The country's overall trade surplus expanded to $119.09 billion for the month, up from $112.5 billion reported in July.[CNBC]
- People's Bank of China Governor Pan Gongsheng stated China does not intentionally pursue trade surpluses or weaken its currency for trade advantages.[CNBC]
Key facts
- China's exports increased by 25% year-on-year in August, according to official customs data.[CNBC · Associated Press]
- August imports grew 28.2%, falling short of the 30% increase projected by economists polled by Reuters.[CNBC]
- China's trade surplus reached $119.09 billion in August, rising from $112.5 billion in July.[CNBC · Associated Press]
- People's Bank of China Governor Pan Gongsheng stated China does not pursue a trade surplus or devalue currency to gain competitive advantages.[CNBC]
What remains uncertain
- Whether economic growth will regain momentum in the second half of the year remains an analyst projection by Evercore ISI.[CNBC]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.