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China Aug exports fall less than forecast, imports grow for first time in 22 months

Thursday, September 8, 2016 - 10:59
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China's August exports fell by 2.8 per cent from a year earlier, less than markets had expected, while imports unexpectedly rose 1.5 per cent, official data showed on Thursday.

[BEIJING] China's August exports fell by 2.8 per cent from a year earlier, less than markets had expected, while imports unexpectedly rose 1.5 per cent, official data showed on Thursday.

Imports expanded for the first time in 22 months.

That left the country with a trade surplus of US$52.05 billion for the month, the General Administration of Customs said.

Analysts polled by Reuters had expected exports to fall 4.0 per cent and imports to drop 4.9 per cent, resulting in a trade balance of US$58 billion.

China's exports have struggled for over a year amid stubbornly sluggish global demand, adding to the drag on the world's second-largest economy, which posted its slowest growth in a quarter of a century in 2015.

Imports have also been mired in a long slump, but declines have been slowly moderating recently thanks to a rebound in global commodity prices.

REUTERS