Chinese trade data is better than expected on all fronts in August
Photo by Kevin Frayer/Getty Images
Chinese trade data has beaten across the board for August.
Exports fell by 2.8% year-on-year, down on the 4.4% contraction seen in July and expectations for a decline of 4.0%.
From January to August, the value of exports fell by 7.1% compared to the same period in 2015.
On the other side of the ledger, imports rose by 1.5%, easily beating expectations for a decrease of 4.9%.
Not only was it a stark turnaround to the 12.5% contraction seen in July, it was also the first time in 22 months that the value of imports rose compared to a year earlier.
Firmer commodity prices, along with with improved domestic demand, likely contributed to the unexpected result.
Like exports, the value of imports between January to August fell by 9% compared to the same period a year earlier.
As a result of the boost to imports seen in August, the trade surplus came in at $US52.05 billion, almost unchanged from the $US52.31 billion figure seen in July.
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