August 2024 saw China’s exports increase more than expected however, imports fell short of forecasts
Exports expanded by 8.7% in U.S. dollar terms compared to the previous year, while imports saw a marginal increase of 0.5%.
The export volume of China’s rare earths decreased by 1% from the previous year, imports experienced a more significant drop of 12%.
China’s exports to its major trading partners, the U.S., European Union and Association of Southeast Asian Nations all reportedly rose in August from a year ago.
Exports to the EU grew the most, up by 13% according to preliminary calculations.