BEIJING: China reported another exceptionally strong month for international trade, with exports jumping 25% year-on-year in August, as booming global demand for high-tech equipment, semiconductors, electric vehicles and other technology-related products helped support the world’s second-largest economy.
Imports also rose sharply, climbing 28.2% from a year earlier. China recorded a monthly trade surplus of approximately $119 billion, while its accumulated surplus during the first eight months of the year reached more than $800 billion.
Technology has become increasingly important to that performance. Semiconductor exports have risen particularly rapidly as worldwide investment in artificial intelligence creates enormous demand for chips, servers and related electronics. Chinese electric vehicles, batteries and solar equipment are also finding expanding overseas markets.
The figures contrast with continuing weakness inside China, where consumer spending, property investment and other parts of domestic demand remain relatively subdued. Strong exports are therefore providing Beijing with an important source of economic growth, although the expanding trade surplus is also likely to remain a source of friction with the United States and other major trading partners.