Beijing (dpa) – The boom in Chinese exports is not diminishing. In September, exports of the second largest economy in US dollars rose by 28, 1 percent compared to the same month last year, as reported by customs in Beijing.
The increase was even higher than in the previous month, when the experts’ expectations had already been exceeded with an increase of 25, 6 percent. Imports, on the other hand, grew more slowly than predicted with only 17, 6 percent, after they had increased by 33, 1 percent in August .
Less imports from Germany
However, China bought remarkably little from Germany. Its imports from Germany even fell by 2.4 percent in September, according to the customs statistics. On the other hand, China exported a hefty 37, 5 percent more to Germany. Chinese exports to the EU rose similarly by 30, 6 percent, while imports rose by only 1.1 percent.
China’s trade surplus rose 66, 76 billion US dollars (previous month: 58, 3 billion US dollars). The strong growth in Chinese exports must, however, also be seen against the background of the low comparative basis in the previous year, when the effects of the pandemic only slowly subsided.
Exports to the USA, which has been in a trade war for three years lead with China, increased by 30, 6 percent. Imports increased by 16, 6 percent. In order to settle the conflict, Washington is calling for a significant increase in Chinese imports from the USA, which Beijing has also promised, but has not yet achieved as promised.
The strong export figures surprised experts who, with reference to the power shortage in China that has persisted for weeks and the subsequent production outages, had expected a lower increase. It was even assumed that the hitherto strong global demand for goods “Made in China” might decrease slightly.
The lack of energy had dampened industrial activity in China in September. Due to the transition to cleaner energies, increasing demand with lower production and massive increases in coal prices, many regions in China lack sufficient electricity. Factories are often only briefly instructed to stop their production on a daily basis in order to save electricity stop.