Sunday, Nov 01

Chinese imports, exports see sharp rise despite pandemic

The surge in imports, mostly in raw materials and other industrial inputs, indicated strong momentum in domestic industrial production.
13.10.2020 - 12:56

China saw brisk growth in imports and exports last month, indicating fast post-pandemic recovery in domestic economic activity, data released on Tuesday showed.

The country’s imports increased by 13.2% in September from a year earlier, daily South China Morning Post reported. The latest figure follows a 2.1% contraction in August and marks the first rise in imports since June.


Exports from China, where the first coronavirus cases were reported last December, climbed for a fourth consecutive month, rising by 9.9% on an annual basis and up slightly from 9.5% in August.

Overall, China’s foreign trade grew by 0.7% year-on-year in the first three quarters of 2020, with exports up by 1.8% and imports declining 0.6%, the country’s General Administration of Customs said.

Vehicle sales also jumped last month, with 2.08 million passenger vehicles sold, China Association of Automobile Manufacturers told state-run daily Global Times.

The figure marked an annual increase of 8%, while sales of new energy vehicles rose 67.7% year-on-year.  “China's exports and imports have consistently beaten market expectations,” Wang Dan, chief economist with Hang Seng Bank China, told English-language state broadcaster CGTN. "The overall trade performance seems to suggest that China's dual circulation strategy has withstood the test,” she added.