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 increased 31.0%. The trade surplus reached $938.11 billion in the first nine months, putting it on track to exceed $1 trillion earlier than last year.
1. Exports surge
China's exports rose 36.3% year over year in September, above August's 25.0% increase and economists' 25.5% forecast. Imports grew 31.0%, compared with 28.2% in August and forecasts for 24.5% growth.
2. Surplus expands
The trade surplus reached $938.11 billion in the first nine months, while September's surplus was $133.53 billion. The September surplus included a $34.01 billion surplus with the United States and a $34.8 billion surplus with the European Union.
3. Technology drives trade
Semiconductor exports rose 108.1% in value terms in the first nine months, and auto exports increased more than 50% in both value and volume. A vice customs minister said external uncertainties could affect trade, but China had support for continued export and import growth in the fourth quarter.
