China's exports rise amid strong global demand

Persimmons being dried at a workshop in Linyi in Shandong province, before they are sent for export. China's exports had increased 6.9 per cent in dollar terms last month from a year earlier.
Persimmons being dried at a workshop in Linyi in Shandong province, before they are sent for export. China's exports had increased 6.9 per cent in dollar terms last month from a year earlier.PHOTO: REUTERS

BEIJING • China's overseas shipments held up, underpinned by robust global demand, while buoyant imports showed the continued strength of the domestic economy.

Exports increased 6.9 per cent in dollar terms last month from a year earlier, the Customs administration said yesterday. Imports advanced 17.2 per cent year on year. The trade surplus was 254.5 billion yuan (S$52.3 billion).

As United States President Donald Trump arrived in Beijing yesterday focused on trimming his nation's trade deficit with China, there is little sign of a full-scale trade war between the world's two largest economies.

Buoyant global growth is driving demand for Chinese exports, while a broader shift to a consumption-driven economy at home is supporting import growth.

"The stronger yuan has more or less hurt exports," said Mr Zhu Qibing, chief macro-economy analyst at BOC International China in Beijing.

"Global demand edged down last month, but the overall trend is steady throughout next year. External demand will continue to support China's economy."

The trade surplus against the US was US$26.6 billion (S$36.3 billion) last month.

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A version of this article appeared in the print edition of The Straits Times on November 09, 2017, with the headline 'China's exports rise amid strong global demand'. Print Edition | Subscribe