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- China’s trade surplus unexpectedly expands in August
China’s trade surplus unexpectedly expands in August
The
report from the General Administration of Customs of China (GACC) revealed
Tuesday the Chinese trade surplus expanded in August from July as well as compared
with a year-ago surplus.
According
to the report, China’s exports surged 25.6 percent y-o-y in August to $294.32
billion compared to a 19.3 percent increase in the prior month and economists’
forecast of a 17.1 percent gain.
Meanwhile,
the country’s imports jumped 33.1 percent y-o-y last month to $235.98 billion
after a 28.1 percent climb in July, while economists had forecast a 26.8
percent rise.
These
trade flows produced a trade surplus of $58.34 billion in August, compared to a
revised surplus of $56.59 billion in July (originally a surplus of $56.58) and
$57.25 billion in August 2020. This was the largest
trade surplus since January. Economists had expected a trade surplus of $51.05
billion in August.
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