China sees slight export growth amid minor trade dip in Jan-Aug 2023

08 Sep '23

1 min read

Pic: Shutterstock/Aunging

Insights

From January–August 2023, China's imports and exports decreased by 0.1 per cent YoY to 27.08 trillion yuan, as per the General Administration of Customs.
Despite a modest YoY increase in exports by 0.8 per cent to 15.47 trillion yuan, imports fell 1.3 per cent to 11.61 trillion yuan.
August exhibited conflicting trends, with a YoY decrease of 2.5 per cent.

China’s imports and exports witnessed a minor dip of 0.1 per cent year-on-year (YoY), amounting to 27.08 trillion yuan (approximately $3.76 trillion) from January–August 2023. A subtle growth was marked in exports at 0.8 per cent YoY till August, aggregating 15.47 trillion yuan.

Conversely, there was a decrease in imports by 1.3 per cent, registering 11.61 trillion yuan. Analysing August solely, a decrement of 2.5 per cent from the previous year was recorded, according to data from the General Administration of Customs (GAC).

However, there was a surge by 3.9 per cent compared to the preceding month, instilling a mixed outlook for the foreign trade landscape in China.

ALCHEMPro News Desk (NB)

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