China's exports rose in value in August, but the outlook remains uncertain amid moves by the United States and European countries to ramp up tariffs on Chinese goods.
China's customs authorities said on Tuesday that exports in August were up 8.7 percent in dollar terms from a year earlier.
It was the fifth consecutive month that exports to the country's main trading partners in Europe have increased significantly.
Exports to Southeast Asian countries and the US were also up.
The value of imports to China rose as well, increasing 0.5 percent year-on-year, making it the second month in a row that imports have increased.
Domestic demand has been stagnant in China, largely a result of a prolonged slump in the real estate market and high youth unemployment.
China is banking on an increase in exports to give the economy a much-needed boost -- but trade barriers are threatening to get in the way.
The United States and European countries have imposed hefty tariffs on Chinese EVs and other goods, which they say are being sold at unfairly low prices due to excess production.
China's customs authorities said on Tuesday that exports in August were up 8.7 percent in dollar terms from a year earlier.
It was the fifth consecutive month that exports to the country's main trading partners in Europe have increased significantly.
Exports to Southeast Asian countries and the US were also up.
The value of imports to China rose as well, increasing 0.5 percent year-on-year, making it the second month in a row that imports have increased.
Domestic demand has been stagnant in China, largely a result of a prolonged slump in the real estate market and high youth unemployment.
China is banking on an increase in exports to give the economy a much-needed boost -- but trade barriers are threatening to get in the way.
The United States and European countries have imposed hefty tariffs on Chinese EVs and other goods, which they say are being sold at unfairly low prices due to excess production.
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Summary
China's exports increased by 8.7% in August compared to the previous year, with significant growth in exports to Europe, Southeast Asia, and the US. Imports also rose by 0.5%. However, trade uncertainty persists due to tariffs imposed by the US and European countries on Chinese goods and EVs,
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ID: e1cc8c46-e5e2-467a-9744-e751e435aa59
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20240910_19/
Date: Sept. 10, 2024
Created: 2024/09/11 07:00
Updated: 2025/12/08 10:39
Last Read: 2024/09/11 08:05