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Saturday, October 23, 2021

Imports grow 17.6% in September, miss expectations

Aerial photo of Taicang port container terminal, Suzhou City, Jiangsu Province in China, Oct. 4, 2021.

Finn | Barcroft Media | Getty Images

BEIJING — China reported disappointing growth in imports in September, while exports beat expectations, according to data released Wednesday by the customs agency.

Imports in U.S. dollar terms rose 17.6% last month from a year ago to $240 billion. That’s less than the 20% estimated by analysts polled by Reuters.

China’s exports in U.S. dollar terms surged 28.1% year-on-year in September to $305.74 billion, beating the 21% growth figure expected by the Reuters poll.

China’s trade surplus with the U.S. rose to $42 billion, as exports surged about 30% from a year ago, while imports climbed just under 17%. The U.S. remained China’s largest trade partner on a single-country basis.

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

Read more about China from CNBC Pro

This is a breaking news story. Please check back for updates.

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