China's exports and imports rose sharply in September, exceeding analysts' expectations, as the world's second-largest economy shifted trade to alternative markets amid a slump in commerce with the United States.
Chinese customs data on Monday showed exports measured in US dollars increased 8.3% from a year earlier, while imports rose 7.4%. The trade surplus came to about $90.5 billion. Analysts had forecast exports to rise roughly 6% and imports by only 1.5%.
Trade with the US, China's largest consumer market, remained weak due to ongoing tensions. Chinese exports to the US fell 27% in September from a year earlier, while imports dropped 16.1%. Businesses have increasingly shifted shipments to alternative markets such as South-East Asia and Africa.
Exports to Germany rose 10.9% in September, while imports from Germany were up 1.8%. European companies have long struggled with low Chinese demand. Domestic consumption in China remains insufficient relative to available supply, prompting intense price competition across multiple sectors and squeezing corporate profits.
