Customs data revealed on Monday that Chinese exports witnessed a rise last August, increasing continuously for the third consecutive month, registering a growth of 9.5 percent compared to last year.

Experts explained this development by the gradual reopening of global economies, especially China's partners, after months of closure due to the Corona pandemic.

Consequently, the increase in external demand increased the volume of international orders for Chinese factory products during the past month. There is no doubt that the medical products associated with the Corona pandemic and electronic products, according to the data, have contributed to stimulating exports.

On the other hand, the level of China's export growth in August is considered the highest since March of 2019, while it was not expected to exceed 7.1 percent, and the trade balance surplus was not expected to exceed 50 billion dollars, while it actually reached 59 billion dollars.

As for imports, they decreased by 2.1 percent in August, exceeding expectations that had initially been set at: 0.1 percent, compared to 1.4 percent in July. Experts believe that it is linked to the US sanctions on China and the survival of the domestic demand for this country at weak levels.

The recovery of Chinese exports during the last three months is a positive sign, but it remains vulnerable to shocks in light of the ambiguity of global economic prospects as long as the Corona epidemic is not eliminated.

Source: Agencies

By:Nadeemy Haded

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