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China exports drop in August

Christian Fernsby ▼ | September 10, 2019
In August, exports fell 1.0% over the same month last year.
China port containers
Asia   China port containers
The printed contrasted both the 3.3% increase in July and the 2.1% growth expected by market analysts.

Topics: China export

August’s contraction mostly reflected a sizeable drop in shipments to the United States.

Imports fell 5.6% in annual terms in August, following July’s 5.3% drop.

The reading was better than the 6.0% decline that market analysts had projected.

As a result of the sharp decrease in imports, the trade surplus rose from USD 26.3 billion in August 2018 to USD 34.8 billion in August 2019 (July: USD 44.6 billion surplus).

The 12-month moving sum of the trade surplus increased from USD 413 billion in July to USD 421 billion in August.

FocusEconomics panelists forecast that exports will expand 0.8% in 2019 and imports will drop 0.5%, bringing the trade surplus to USD 381 billion.

In 2020, FocusEconomics panelists expect exports will expand 2.4%, while imports will rise 3.9%, bringing down the trade surplus to USD 358 billion.