Chinese exports remain robust despite weakening global economy

Thanks to demand from the US and EU.

China’s September trade data (both exports and imports) surprised the market on the upside.

According to OCBC Macro Views, External demand from advanced economies remained supportive despite the slowdown in global economy. 

OCBC adds that China’s export by value hit a record high of US$213.6 billion in September. The strong export was mainly supported by improving demand from US and EU. Exports to EU and US went up by 14.9% and 10.8% yoy respectively.

China’s import managed to clock a 7% growth in September after two consecutive contractions in July and August. The imports of Electronic Integrated Circuit grew strongly by 8.9% after falling for the past two months; a sign of improving economic prospects.