China's September exports surge 36.3 per cent, beating forecasts
China's September exports rose 36.3 per cent year-on-year in US dollar terms, exceeding the 25.5 per cent forecast, while imports grew 31 per cent, also above expectations. The trade surplus reached US$133.53 billion, data from the General Administration of Customs showed.
China's General Administration of Customs reported on 14 October that September exports rose 36.3 per cent year-on-year in US dollar terms, surpassing the market forecast of 25.5 per cent. Imports increased 31 per cent, also beating the anticipated 24.5 per cent. The trade surplus for the month stood at US$133.53 billion, higher than expected.
For the first three quarters of the year, exports grew 21.3 per cent and imports rose 27.5 per cent, resulting in a trade surplus of US$938.11 billion.
Bilateral trade data showed that in the January-September period, China's exports to the United States rose 9.8 per cent year-on-year, while imports from the US increased 5.2 per cent. Exports to the European Union grew 16.4 per cent, with imports up 5.5 per cent. Trade with the Association of Southeast Asian Nations (ASEAN) also expanded, with exports rising 28.7 per cent and imports climbing 26.6 per cent.
The strong export performance in September suggests continued external demand for Chinese goods, despite global economic headwinds. Analysts noted that the figures significantly exceeded market expectations, particularly for exports, which were forecast to grow at a much slower pace.
The customs data comes as Beijing maintains its zero-Covid policy, which has disrupted domestic supply chains and consumption. The robust trade numbers may provide some relief to policymakers focused on economic stability.