China exports up 28% in September; surplus with US at $42B

Beijing, Oct 13:
China’s import and export growth slowed in September amid shipping bottlenecks and other disruptions combined with coronavirus outbreaks, according to customs data reported Wednesday.
The report showed exports rose 28.1% to $305.7 billion. That was slightly slower than the 33% increase logged in August. Imports rose 17.6% to $240 billion, accelerating from the previous month’s 26%.
Disruptions in industrial supply chains have persisted after last year’s global economic downturn. Renewed clusters of infections in the United States and some other markets also dampened consumer sentiment.
Economists have forecast that surging global demand for Chinese goods will level off as anti-disease controls ease and entertainment, travel and other service industries reopen.
The politically sensitive trade surplus with the U.S. Rose to $42 billion from nearly $38 billion in August, the report said.
Overall growth in two-way trade rose 15% in July-September, slowing from 25% year-on-year growth in the previous quarter. (AGENCIES)