CHINA’S exports in U.S. dollar terms expanded more than expected in September, official data showed yesterday, as solid global demand offset the pressure on factories from a nationwide power crunch and a resurgence of domestic COVID-19 cases.

The exports in September grew by 28.1 percent from a year ago to US$305.74 billion, up from a 25.6 percent gain in August, according to data from the General Administration of Customs.

September’s gain was higher than Bloomberg’s forecast of 21.5 percent and that of 21 percent in a Reuters poll.

However, growth in imports in U.S. dollar terms slowed to a 17.6 percent growth in September from 33.1 percent the previous month. The value of imports stood at US$238.98 billion.

The imports growth lagged an expected 20 percent gain predicted in the Reuters poll and the 20.9 percent of Bloomberg.

China’s total imports and exports expanded 22.7 percent year on year to 28.33 trillion yuan (US$4.38 trillion) in the first three quarters of 2021, customs data showed.

The figure marked an increase of 23.4 percent from the pre-epidemic level in 2019, according to customs data.

“We think that on the whole, there are both many favorable and unfavorable factors affecting the trade,” said Chinese customs spokesman Li Kuiwen.

“The increase of demand in the global market has benefited China’s exports. The rise in international commodity prices has pushed up the value of imports,” Li said.

“The global [coronavirus] pandemic remains unstable, the world economic recovery is tough, the external environment is becoming more complex and severe. China’s trade is still facing many instabilities and uncertainties.”

In the first nine months, China’s trade with its top three trading partners — the Association of Southeast Asian Nations, the European Union and the United States — maintained sound growth.

During the period, the growth rates of China’s trade value with the three trading partners stood at 21.1 percent, 20.5 percent and 24.9 percent, respectively.

China’s trade with countries along the Belt and Road rose 23.4 percent year on year during the same period, while the country’s trade with members of the Regional Comprehensive Economic Partnership climbed 19.3 percent, customs data showed.

China’s trade surplus with the United States rose to US$42 billion from US$37.7 billion in August, according to the customs data. Last week, top officials from both sides held virtual talks on trade issues and exchanged views on the implementation of the Sino-U.S. economic and trade agreement.

“Taking into account the impact of the high base of foreign trade in 2020, the growth rate of foreign trade may fall in the fourth quarter of this year. But the overall upward trend of the country’s foreign trade will not change, and it is still expected to achieve rapid growth throughout the year,” the spokesman said.

The volume of coal imports in September rose to their highest this year, while natural gas imports in September also rose to their highest since January this year.

China posted a trade surplus of US$66.76 billion in September, versus US$58.34 billion surplus in August. (SD-Xinhua)