Imports increased by 17.6% in September, lower than expected

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Aerial photo of the Taicang Port Container Terminal in Suzhou City, Jiangsu Province, China, October 4, 2021.

Finland | Barcroft Media | Getty Images

BEIJING-Data released by the General Administration of Customs of China on Wednesday showed that China’s import growth in September was disappointing, while exports exceeded expectations.

Imports in U.S. dollars last month increased by 17.6% year-on-year, reaching $240 billion. This is lower than the 20% estimated by analysts surveyed by Reuters.

China’s exports in US dollars in September increased by 28.1% year-on-year to US$305.74 billion, exceeding the 21% growth expected in a Reuters survey.

China’s trade surplus with the United States increased to 42 billion U.S. dollars, exports increased by about 30% year-on-year, while imports grew by slightly less than 17%. On the basis of a single country, the United States remains China’s largest trading partner.

In September, China’s imports from Australia increased by approximately 50% year-on-year to US$15.04 billion, while exports increased by nearly 24% year-on-year to approximately US$6 billion.

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