China’s import and export growth slowed in September amid shipping bottlenecks and other disruptions combined with coronavirus outbreaks, according to customs data. The politically sensitive trade surplus with the U.S. rose to $42 billion in the month.
The report showed exports rose 28.1% to $305.7 billion. That was slightly slower than the 33% increase logged in August, but faster than economists had forecast. Imports rose 17.6% to $240 billion, less than the previous month’s 26% but a bit more than expected.
This year’s trade figures have been distorted by comparison with 2020, when global demand plunged in the first half after governments shut factories and shops to fight the pandemic. Chinese exporters reopened after the ruling Communist Party declared the virus under control in March 2020, while its foreign competitors still were hampered by anti-virus curbs.
Overall growth in two-way trade rose 15% in July-September, slowing from 25% year-on-year growth in the previous quarter.
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