China: Exports continue gathering steam in August
September 8, 2013
In August, exports rose 7.1% over the same month last year, which follows the 5.1% rise seen in July. The result overshot market analysts' expectations of a 5.5% climb and marks the strongest increase in four months. Imports expanded 7.0% in August, which was a deceleration over the 10.9% rise tallied in July. The increase undershot market expectations of an 11.2% rise.
The trade balance recorded a surplus of USD 28.5 billion, which was larger than the USD 26.4 billion surplus recorded in in the same month last year. The August balance overshot market expectations of a USD 20.0 billion surplus. Accordingly, the 12-month moving sum of the trade surplus rose from USD 264 billion in July to USD 266 billion in August.
FocusEconomics panelists project that merchandise exports will grow 7.9% in 2013 (USD 2.2 trillion) while the trade surplus will widen to USD 269 billion, up from USD 231 billion in 2012. For 2014, the panel expects exports to increase 9.4% and the trade surplus to increase to USD 291 billion.