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China August Exports Up 5.5%, Imports Up 13.3% In Dollar Terms

08-Sep-2017
China August Exports Up 5.5%, Imports Up 13.3% In Dollar Terms

China on Friday reported August exports were up 5.5 percent from a year ago in dollar terms, while imports were up 13.3 percent in dollar terms.

Analysts polled by Reuters expected a 6.0 percent rise in Chinese exports in August from a year ago in dollar terms. August imports were forecast to rise 10.0 percent in the same period.

China's August trade balance was $41.99 billion, data from the General Administration of Customs showed the country's surplus with the U.S. rose to $26.23 billion from $25.2 billion in July. The two countries' trade is closely-watched amid current tensions between the economic giants about trade practices.

China's economic data have been showing robust growth ahead of leadership changes later this year.

But many expect the mainland's economy to slow in the second half of the year due to a crackdown on debt and as the property market cools.

In July, China reported a 7.2 percent increase in imports and a 11.0 percent on-year rise in exports in dollar terms.

Market watchers are keeping their eyes on the health of the world's second-largest economy ahead of a key Communist Party meeting in October.

China on Friday also reported August exports were up 6.9 percent in yuan terms while imports were up 14.4 percent in yuan terms from a year ago, Chinese customs data showed.

Source: Cnbc.com

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