China's foreign trade saw a stronger-than-expected rebound in September, indicating improved external demand and stabilization of the sharp growth deceleration in previous months, customs data showed on October 13.
Exports saw the fastest growth in 19 months, expanding 15.3 percent from a year ago to $213.7 billion in September. The growth rate was the highest monthly reading since March 2013.
Imports increased 7 percent year on year to $182.7 billion in the month, and total foreign trade volume rose 11.3 percent to $396.4 billion, the General Administration of Customs (GAC) said.
September's growth rate in imports also marked the best performance since December 2013, according to the GAC.
Trade surplus in September more than doubled from last year to $31 billion, compared with $49.8 billion in August.
Analysts dubbed the latest trade data "the big upside surprise," saying that the significant rebound in trade will help ease concerns about an economic slowdown in China.
Zheng Yuesheng, GAC spokesman, attributed September's strong growth to a string of government measures adopted in May to stabilize foreign trade, as well as rebounding global demand.
"We expect the strong momentum to continue in the fourth quarter," Zheng said, adding export pressure will lift in the last three months of this year. |