China: Exports contract again in August; trade surplus widens
September 8, 2015
In August, exports fell 5.5% over the same month last year, which followed the 8.3% decline tallied in July. August’s contraction was above the 6.6% decrease that market analysts had expected. Imports fell 13.8% annually in August, which was below the 8.1% decline tallied in July. August's plunge was worse than the 7.9% drop that market analysts had expected.
As a result of the sharp drop in imports, the trade surplus widened to USD 60.2 billion in August (July: USD 43.0 billion) from USD 49.8 billion in the same month last year. The 12-month moving sum of the trade surplus rose from USD 537 billion in July to USD 547 billion in August, hitting an all-time high.