Chinese foreign trade grew by 8.6% year-on-year in August

Chinese foreign trade grew by 8.6% year-on-year in August

Shanghai (China), Sep 7 – The value of trade exchanges denominated in yuan between China and the rest of the world increased by 8.6% year-on-year in August, according to official data published today by the General Administration of Customs of the asian country.

Specifically, exports increased by 11.8% to 2.12 trillion yuan (303,856 million dollars, 307,397 million euros).

This rate of increase was, again, much higher than that of imports (4.6%), which stood at 1.59 trillion yuan (227,892 million dollars, 230,548 million euros).

In the eighth month of the year, trade with other countries totaled about 3.71 trillion yuan (531.77 billion dollars, 537.93 billion euros).

Thus, the trade surplus of the Asian country in August was 535,910 million yuan (76,811 million dollars, 77,699 million euros).

The growth rate of exchanges of goods and services between China and abroad slowed down by 8 percentage points compared to the figure for July, the month in which it had advanced by 16.6% year-on-year.

In the accumulated so far this year, Chinese international trade has increased by 10.1% compared to the same period in 2021.

Melissa Galbraith
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