Imports grow 17.6% in September, falling short of expectations

Aerial view of the container terminal in the port of Taicang, Suzhou City, Jiangsu Province, China, October 4, 2021.

Fin | Barcroft Media | Getty Images

BEIJING – China reported disappointing import growth in September, while exports beat expectations, according to data released Wednesday by customs.

Imports in US dollars last month rose 17.6% year over year to $ 240 billion. That’s less than the 20% estimated by analysts polled by Reuters.

China’s exports in US dollars rose 28.1% year over year to $ 305.74 billion in September, beating the Reuters poll’s expected growth rate of 21%.

China’s trade surplus with the United States soared to $ 42 billion as exports rose about 30% year over year while imports rose nearly 17%. At the country level, the US remained China’s largest trading partner.

Chinese imports from Australia rose about 50% year-over-year to $ 15.04 billion in September, while exports rose nearly 24% year-over-year to about $ 6 billion.

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