China’s September exports reached 447.18 billion dollars, while imports rose 31 per cent from a year earlier. The monthly trade surplus was 133.5 billion dollars. Semiconductor shipments grew sharply, alongside a larger nine-month surplus. Economists linked export strength to technology demand while pointing to weaker domestic consumption.
Economics & Markets··Night
September exports accelerate
China’s September exports increased 36.3 per cent from a year earlier, while imports rose 31 per cent. The customs figures released on 14 October put the monthly trade surplus at 133.5 billion dollars. Exports had grown 25 per cent annually in August, when import growth was 28.2 per cent.[1], [2]
Export receipts reached 447.18 billion dollars in September. For the first nine months, exports totaled 3.37 trillion dollars and imports 2.43 trillion dollars. The nine-month surplus was 938.1 billion dollars.[1]
Technology shipments and Southeast Asia lead gains
Semiconductor exports increased more than 108 per cent, and shipments of automatic data processing machines rose nearly 55 per cent. The Association of Southeast Asian Nations remained China’s largest export market: September sales to the region grew more than 52 per cent to 81.7 billion dollars.[1]
Exports to the European Union increased 25.3 per cent to 60.15 billion dollars. Shipments to the United States rose 39.6 per cent to 47.88 billion dollars.[1]
Economists point to weaker domestic demand
HSBC economist Taylor Wang linked export growth to high-tech demand and the artificial intelligence investment cycle. ING economist Lynn Song said exports supported China’s growth target but domestic indicators remained weaker. He called for growth to be rebalanced over the medium term, against a backdrop of soft consumption and a weakening property market.[1]
