China's September exports soar, putting $1 trillion trade surplus in sight
FXI•China's exports rose 36.3% year over year in September, while imports gained 31.0%. The trade surplus reached $938.11 billion in the first nine months, putting it on course to exceed $1 trillion sooner than last year.
1. Exports accelerate
China's exports surged 36.3% year over year in September, up from 25.0% growth in August and above economists' 25.5% forecast. Imports grew 31.0%, compared with 28.2% in August and a 24.5% forecast.
2. Surplus approaches milestone
The trade surplus reached $938.11 billion in the first nine months, after topping $1 trillion in November last year and reaching a record $1.189 trillion for the full year. September's surplus was $133.53 billion, including a $34.01 billion surplus with the United States and $34.8 billion with the European Union.
3. Trade risks remain
Semiconductors and green-technology products have supported exports; semiconductor exports rose 108.1% in value terms in the first nine months, while auto exports expanded more than 50% in value and volume. Officials cited external uncertainties, and analysts said a deal limiting Chinese hybrid-vehicle exports to the EU could weigh on auto trade over time.
