China’s trade gains momentum in September
China’s exports continued to grow for the fourth consecutive
After a 2.1% decline y/y in August, China’s imports soared in September with a significant increase of 13.2% y/y, reaching USD 202.8bn, USD 26.5bn more than the August figure. After the COVID-19 shock, China’s imports plummeted by 16.7% in May, 2020. On a year-to-date basis, imports still post negative changes, with the September decline being 3.1% y/y.
China’s exports continued to grow for the fourth consecutive month, accelerating to a 9.9% y/y increase from a 9.5% rise in August. During the first nine months of 2020, however, China’s exports declined by 0.8% compared to the same period in 2019.
Further data and analysis on China’s economy is available on the CEIC China Economy in a Snapshot – Q3 2020 report.