Beijing, China (4E) – China recorded a better-than-expected trade performance in August, boosted by stronger exports and improving economies abroad, widening the trade surplus to $28.6bn, according to data from customs released Sunday.
Exports jumped 7.2 percent in August from the previous year, the General Administration of Customs said. The figure is higher than July’s 5.1 percent gain on the year after falling 3.1 percent in June and surpassed economists’ median forecast of 6.0 percent expansion in a survey by Dow Jones Newswires.
Imports saw a rise of 7.0 percent on the year, lower than the 10.9 gain in July, though a sharp rebound from the 0.7 percent decline in June. The import figure is below the median forecast of economists who called for an 11.7 percent gain.
Customs also said that the trade surplus widened 8.3 percent from August 2012 and also rose from $17.8bn in July.
Investors and analysts are looking for signs of a sustained recovery in China, which the global economy depends on to keep the growth momentum. Last year, China’s gross domestic product grew 7.7 percent, the slowest pace since 1999.
Recent economic news have pointed to a stabilizing, if not a strong, recovery. The official August purchasing managers’ index (PMI) for manufacturing was positive, which suggests increased activity in the country’s factories.