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China August exports rise 9.5% year-on-year, beating forecasts; imports down 2.1%

China August exports rise 9.5% year-on-year, beating forecasts; imports down 2.1%

File photo of the Yantian port in Shenzhen, Guangdong province, China, May 17, 2020. (Photo: REUTERS/Martin Pollard)

BEIJING: China's exports in August rose at a faster-than-expected pace, increasing by 9.5 per cent from a year earlier, though imports dropped 2.1 per cent, customs data showed on Monday (Sep 7).

Analysts in a Reuters poll had forecast exports would increase 7.1 per cent from a year earlier after registering surprising growth of 7.2 per cent in July.

Imports were estimated to have edged up 0.1 per cent, after slumping 1.4 per cent in July.

China posted a trade surplus of US$58.93 billion last month, compared with the poll's forecast for a US$50.50 billion surplus and US$62.33 billion surplus in July.

Source: Reuters/dv

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