China exports see surprise jump despite power crunch

0
58


BEIJING: China’s exports surged unexpectedly in September, official data showed on Wednesday, but analysts warned of an impending blow from the country’s energy crisis that has disrupted supplies.
The report showed that exports increased 28.1% to $ 305.7 billion. That was slightly slower than the 33% increase recorded in August. Imports increased 17.6% to $ 240 billion, accelerating from 26% the previous month.
The data came after a sharp jump in trade in the world’s second-largest economy in August, suggesting that demand for consumer goods abroad had soared as a domestic virus outbreak slowed.
But last month, many factories were forced to halt operations due to power outages caused by emissions reduction targets, rising coal prices and supply shortages, raising concerns about supply chains. global supply.
“Although electricity rationing does not seem to have derailed the export sector so far … it could do so in the coming weeks,” he warned. Capital economyJulian Evans-Pritchard, Senior China Economist.
The politically sensitive trade surplus with the United States rose to $ 42 billion from nearly $ 38 billion in August, according to the report.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here