China's August exports rise 9.8pc, imports up 20pc

Published: September 08, 2018 13:13:39 | Updated: September 11, 2018 18:16:01

China's foreign trade went up 9.1 per cent year on year to 19.43 trillion yuan (about 2.85 trillion US dollars) in the first eight months of this year, customs data showed Saturday.

Exports of the world’s largest exporting country rose 5.4 per cent year on year in the January-August period to 10.34 trillion yuan while imports grew 13.7 per cent to 9.09 trillion yuan.

The trade surplus of the second largest economic country stood 1.25 trillion yuan, which narrowed by 31.3 per cent, according to the General Administration of Customs.

In August, exports rose by 7.9 per cent while imports jumped by 18.8 per cent, reports Xinhua.

Exports and imports of products under the general trade category gained 13.1 per cent from a year ago to 11.43 trillion yuan in the first eight months, accounting for 58.8 per cent of the total foreign trade, 2.1 percentage points higher than the same period in 2017.

The country's trade with major trading partners saw an increase during the January-August period.

Trade with the European Union, its largest trading partner, climbed 6.2 per cent, and trade volume with the United States and ASEAN countries increased by 5.9 per cent and 11.8 per cent, respectively.

Trade with countries along the Belt and Road totaled 5.31 trillion yuan, up 12 per cent year on year, 2.9 percentage points faster than the average growth rate, data showed.

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