China’s Exports Surge to Record as Demand Outweighs Power Crisis
- Exports rose 28.1%, beating expectations, while imports slowed
- Customs official says trade may slow in fourth quarter
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China’s exports surged to a new monthly record in September as strong demand ahead of year-end holidays and rising prices outweighed the effect of power shortages across the country.
Exports grew 28.1% in dollar terms in September from a year earlier to reach a high of $305.7 billion, data from the General Administration of Customs showed Wednesday. That beat economists’ expectations of a 21.5% gain. Import growth slowed to 17.6%, below the 20.9% forecast by economists, leaving a trade surplus of $66.8 billion.