China's August exports grow 24.5%

China's exports surged 24.5 percent year-on-year in August to reach 173.31 billion U.S. dollars, the General Administration of Customs announced Saturday.

Imports expanded at 30.2 percent to 155.56 billion U.S. dollars, a record high since March this year, according to figures released by the customs authority.

Trade surplus for the month stood at 17.75 billion U.S. dollars, which was down from July's 31.48 billion U.S. dollars.

Exports and imports in the first eight months amounted to 2.35 trillion U.S. dollars, representing a 25.4-percent increase year-on-year.

From January to August, exports totaled 1.22 trillion U.S. dollars, up 23.6 percent; imports totaled 1.13 trillion U.S. dollars, up 27.5 percent.

Trade surplus during the period shrank to 92.73 billion U.S. dollars, down 10 percent compared to a year ago.

In the first eight months, trade between China and the European Union (EU) rose 21.8 percent to 372.14 billion U.S. dollars. The EU remained China's largest trading partner.

Trade between China and the United States came second at 285.65 billion U.S. dollars, up 17.8 percent.

The Association of Southeast Asian Nations (ASEAN) block was China's third largest trading partner with bilateral trade totaling 234.61 billion U.S. dollars, up 26.6 percent.

China recorded a trade deficit of 15.67 billion U.S. dollars with the ASEAN during the period, up 69.6 percent.

Bilateral trade between China and Japan grew at a slower pace of 18.8 percent and reached 221.98 billion U.S. dollars during the period. China also saw a trade deficit of 33.72 billion U.S. dollars with Japan, down 7 percent year-on-year.


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