China: Imports expand for first time in nearly two years in August
September 8, 2016
Exports fell 2.8% annually in August, which marked a much more moderate contraction than both the 4.4% drop recorded in July and the 4.0% decline the markets had expected.
Meanwhile, imports expanded 1.5% annually in August, which contrasted both the 12.5% drop recorded in July and the 5.4% contraction that market analysts had expected. August’s print represented the first expansion since October 2014.
Due to the unexpected expansion in imports, the trade surplus declined from USD 59.7 billion in August 2015 to USD 52.0 billion in August this year. The 12-month moving sum of the trade surplus decreased from July’s USD 610 billion to USD 602 billion in August.