Business & Economy

China’s foreign trade increased 18.9% year-on-year in August

Shanghai, China, Sep 7 (EFE).- China’s global trade grew 18.9 percent year-on-year in August, the General Administration of Customs announced on Tuesday.

China’s trade with the rest of the world in the eighth month of 2021 stood at 3.43 trillion yuan ($531.28 billion), according to the customs agency.

The Asian giant’s exports denominated in yuan increased by 15.7 percent to 1.9 trillion yuan.

Imports also expanded by 23.1 percent to reach a value of 1.53 trillion yuan.

The trade surplus of the world’s second largest economy stood at 376.31 billion yuan in August, which represents a decrease of 9.7 percent compared to the same month of 2020.

The General Administration of Customs also released cumulative data since the beginning of the year, which shows a 23.7 percent growth in China’s trade with the rest of the world to 24.78 trillion yuan.

Between January and August, exports expanded by 23.2 percent year-on-year and imports by 24.4 percent. EFE


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