August exports surge nearly 38%

China's exports rose nearly 38 percent in August from a year earlier, higher-than-expected growth that helped the country¡¯s fourth-straight monthly trade surplus swell to US$3.9 billion.

¡°Whether the trend will be sustained depends on the United States, for example, whether U.S. consumption will remain strong. I think strong export growth will continue for some time,¡± HSBC economist Qu Hongbin said of the fast export growth.

August imports came in at US$47.6 billion, up 37.4 percent from a year earlier, and also faster than the expected 32.5 percent.

The growth rates accelerated from July, when exports rose nearly 34 percent from a year earlier and imports were up 34.2 percent. China¡¯s trade had shown a gradual easing trend since the spring, although many analysts say it has still been surprisingly robust.

August saw a trade surplus of US$3.9 billion, well above the US$1.9 billion median forecast of six economists, and 40 percent higher than the surplus a year earlier.

China ran trade surpluses of US$2 billion in July and US$1.8 billion in June, but for the first eight months it has shown a deficit of just under US$1 billion.

Exports in the first eight months were US$360.59 billion, up 35.8 percent from a year earlier, while imports grew 40.8 percent to US$361.54 billion, the International Business Daily said Friday, quoting customs figures.

Source: Shenzhen Daily-Agencies