China exports up 9%, for 7th month of growth


China exports up 9%, for 7th month of growth

That is the joint-highest monthly level this year, tying the figure from March.

In September, China's foreign trade rose 13.6 percent to 2.46 trillion yuan, with exports up 9 percent and imports up 19.5 percent.

Exports increased 8.1% in September compared with the same period a year earlier, following 5.5% growth in August, the General Administration of Customs said Friday.

China's global trade surplus in September shrank 38.6 percent from the same time a year ago to $28.5 billion. The rise beat the poll's forecast for a 15% gain.

In line with UN Security Council Resolution 2375, China fully banned the imports of North Korean textile products from September 23rd. Demand for Chinese products has proven robust as growth in major trading partners holds up, though this trade report also gets a boost from a comparison with a low base a year ago.

The trade surplus narrowed in September to $28.47 billion from almost $42 billion the previous month, falling short of expectations for a $37.3 billion surplus.

Capital Economics' China economist Julian Evans-Pritchard said the timing of the mid-Autumn festival this year also meant there were more working days last month than in September 2016, suggesting October figures should show a partial reversal. Imports rose 18.7 percent to $169.8 billion, an improvement from the previous month's 13.3 percent.

China-US ties have been strained by President Donald Trump's criticism of China's trade practices and by demands that Beijing do more to put pressure on North Korea.

China's politically sensitive trade surplus with the United States rose to a record for a single month, according to Reuters calculations using official data going back to 2008.

China's economy has surprised analysts with its resilience so far in 2017, expanding by 6.9% in the first half, though most market watchers have stuck to predictions that it will slowly begin to lose growth momentum later in the year.