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China Sept export growth unexpectedly picks up, surplus with the U.S. rose to $42 billion

beijingwalker

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China Sept export growth unexpectedly picks up, surplus with the U.S. rose to $42 billion
Reuters

October 13, 2021

  • Sept exports +28.1% yr/yr vs +21% forecast in Reuters poll
  • Sept imports +17.6% yr/yr vs +20% forecast
  • Sept trade balance $66.76 bln vs $46.8 bln forecast
BEIJING, Oct 13 (Reuters) - China's export growth was faster than expected in September, as solid global demand offset some of the pressure on factories from power shortages and a resurgence of domestic COVID-19 cases.

China's exports in September rose 28.1% from a year earlier, up from a 25.6% gain in August. Analysts polled by Reuters had forecast growth would ease to 21%.

The world's second-largest economy staged a strong rebound from the COVID-19 pandemic but there are signs the recovery is losing steam. New problems including high demand for raw materials and supply bottlenecks have dimmed China's economic outlook.

Power shortages caused by a transition to clean energy, strong industrial demand and high commodity prices, have halted production at numerous factories including many supplying firms such as Apple (AAPL.O) and Tesla (TSLA.O).

Recent data has pointed to a slowdown in production activity. China's manufacturing PMI unexpectedly shrank in September as industrial firms battled with rising costs and electricity rationing. read more

Imports increased 17.6%, lagging an expected 20% gain in a Reuters poll and compared with 33.1% growth the previous month.

China posted a trade surplus of $66.76 billion in September, versus the poll's forecast for a $46.8 billion surplus and $58.34 billion surplus in August.

Many analysts are expecting the central bank to inject more stimulus by cutting the amount of cash banks must hold as reserves later this year to help small and medium-sized enterprises.


China has largely contained coronavirus outbreaks driven by the more infectious Delta variant, but analysts say the country's "zero-tolerance" COVID-19 policy and stretched international shipping capacity could be constraints.

China's trade surplus with the United States rose to $42 billion, Reuters calculations based on the customs data showed, up from $37.68 billion in August.

Last week, top trade officials from the United States and China reviewed the implementation of the U.S.-China Economic and Trade Agreement.

The United States has been pressing China to hold its commitments under a 'Phase 1' trade deal which has eased a long running tariff war between the world's two largest economies. The Phase 1 deal is due to expire at the end of 2021


Every month western media reports "unexpected pickup" "surprising growth" about China. I start to wonder what they really expected ?
 
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beijingwalker

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The politically sensitive trade surplus with the U.S. rose to $42 billion from nearly $38 billion in August, the report said. Overall growth in two-way trade rose 15% in July-September year-on-year.
 

beijingwalker

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China Sept trade surplus with the United States at $42 bln
Reuters
Publishing date:

BEIJING — China’s trade surplus with the United States stood at $42 billion in September, Reuters calculations based on Chinese customs data showed on Wednesday, up from $37.68 billion in August.

For the first nine months of the year, the surplus was $280 billion, up from $237.99 billion during the first eight months of 2021.

Last week, top trade officials from the United States and China reviewed the implementation of the U.S.-China Economic and Trade Agreement.

The United States has been pressing China to hold its commitments under a ‘Phase 1’ trade deal which has eased a long running tariff war between the world’s two largest economies.

 

onebyone

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  • China’s exports grew by 28.1 per cent in September compared with a year earlier, up from 25.6 per cent growth in August
  • China’s imports rose by 17.6 per cent last month, year on year, down from 33.1 per cent growth in the previous month
China’s exports rose more than expected in September, data released on Wednesday showed.
China’s exports grew by 28.1 per cent in September from a year earlier, to US$305.74 billion – up from the
25.6 per cent growth seen in August.
 

lcloo

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China Sept export growth unexpectedly picks up, surplus with the U.S. rose to $42 billion

Every month western media reports "unexpected pickup" "surprising growth" about China. I start to wonder what they really expected ?
With constant fake news from CNN, people in the West are brainwashed to believe Delta variant COVID-19 is hitting hard on China in 2021, and it will doom China's economic growth. They find it hard to believe the "unexpected pickup", LOL!

Guess who is reporting fake news for CNN on 2021 August 13th.
0 cnn lies).jpg
 

beijingwalker

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With constant fake news from CNN, people in the West are brainwashed to believe Delta variant COVID-19 is hitting hard on China in 2021, and it will doom China's economic growth. They find it hard to believe the "unexpected pickup", LOL!

Guess who is reporting fake news for CNN on 2021 August 13th.
View attachment 784647
Feel sorry for poor western media, on one hand they have to make up stories that China is hell on earth and everything is bad about China, one the other hand they have to deal with real numbers and figures showing China getting stronger and richer by the day. It's argubly the toughest job in the world.
 

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