China’s September Exports Surge 36.3%, Beating Forecasts
China’s exports and imports both beat September forecasts, while factory input prices rose faster than consumer prices.
Key takeaways
- September exports rose 36.3% year over year, exceeding the 25.5% forecast.
- Imports increased 31%, and the trade surplus reached $133.53 billion.
- Factory prices rose 5%, while consumer prices increased 0.9%.
China’s exports rose 36.3% year over year in September, far above economists’ 25.5% forecast, according to customs data released Oct. 14. The increase accelerated from 25% in August.
Imports climbed 31%, compared with a forecast of 24.5%. China’s trade surplus reached $133.53 billion, up from about $119.09 billion in August. Goods trade totaled 5.16 trillion yuan, passing 5 trillion yuan for the first time.
Technology exports also grew strongly over the first nine months of the year. Integrated circuit exports rose 99.1%, electric vehicle exports increased 72.3%, and lithium battery exports gained 36.4%.
Factory prices accelerate
Factory-gate prices rose 5% year over year, their fastest increase since June 2022, after rising 3.8% in August. Prices for factory inputs increased 6.9%.
By comparison, consumer prices rose 0.9%, while core inflation, which excludes food and energy, was 1%. The figures show that higher prices in industry have not been matched by similar increases for consumers.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
