China’s trade balance grew slightly more than expected in August, as export growth slowed amid waning momentum from a temporary trade truce with the U.S., while imports also weakened amid sluggish domestic demand.
Trade balance grew to a surplus of $102.30 billion, customs data showed on Monday, more than expectations of $99.40 billion. The surplus also picked up from the $98.24 billion seen in the prior month.
China’s exports rose 4.4% in August from a year earlier in dollar terms, missing forecasts of 5.0% and slowing from July’s 7.2% gain.
The moderation reflects fading momentum from a temporary U.S.–China tariff truce and softer shipments to key markets, including the United States.
Exports had recovered steadily in the past few months after Beijing and Washington agreed in mid-May to slash their respective trade tariffs. Both sides confirmed the agreement in June and renewed the temporary truce for another 90 days last month.
Imports increased 1.3% year-on-year, below expectations of 3.0% and down from July’s 4.1%, highlighting sluggish domestic demand and calls for a fresh stimulus package from the government.
Source :
https://www.investing.com/news/economic-indicators/china-trade-balance-grows-slightly-in-aug-as-exports-miss-forecasts-imports-slow-4228029
