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  HOME | Business & Economy (Click here for more)

China’s International Trade Grows 0.1% in August

BEIJING – China’s international trade grew by just 0.1 percent year-on-year in August, according to official data released Sunday.

The General Administration of Customs said that in the eighth month of 2019, China’s foreign trade stood at 2.72 trillion yuan ($381.92 billion).

The weak growth represents a slowdown of 12.6 percentage points from that experienced by Chinese trade in the same month last year.

Chinese exports increased by 2.6 percent, while imports fell by the same percentage.

The trade surplus was 239.6 billion yuan, 33.3 percent higher than recorded in Aug. 2018.

Trade with the United States, a country with which China has been in a trade war since March 2018, declined by 9.2 percent.

Exports to the US fell by 12.9 percent and the purchase of American products declined by nearly 20 percent year-on-year.

In an accumulation of the first eight months of the year, China’s foreign trade reached 20.13 trillion yuan, with a higher increase in exports (6.1 percent) than imports (0.8 percent).

The trade surplus as of August stood at 1.77 trillion yuan, or 42.5 percent more than in the same period last year.

 

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