China’s exports rose 25% year-on-year in August, matching forecasts and accelerating from the 23.9% increase recorded in July, as strong international demand for technology and AI-related products continued to support the economy.
Imports also increased, rising 28.2% year-on-year after a 27.5% gain in July. Economists had expected import growth of 30%.
The export performance highlights China’s continued reliance on overseas demand while domestic consumption and investment remain comparatively weak. Beijing is targeting GDP growth of 4.5%-5% this year.
High-tech exports were particularly strong. During the first eight months of the year, their value increased 42.9% in U.S. dollar terms. Semiconductor export values more than doubled, while export volumes increased 4.1%. Vehicle exports increased by more than 50% in both value and volume.
Demand for AI products, electric vehicles, solar cells and lithium-ion batteries helped support shipments.
China’s trade surplus reached $119.09 billion in August, up from $112.5 billion in July. During the first eight months, the surplus totaled $805.51 billion, putting the annual figure on course to exceed $1 trillion for a second consecutive year.
The surplus with the United States increased to $29.18 billion from $28 billion in July. Chinese exports to the U.S. rose 34.4% year-on-year, compared with 17.8% growth in imports.
Despite the strong export figures, China’s domestic economy remains under pressure. Industrial output and retail sales slowed at the start of the third quarter, while fixed-asset investment declined more sharply during the first seven months.
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