China just posted its strongest export month of the year, with outbound shipments climbing 25% year-on-year in August to $401.44B. That’s an acceleration from July’s already impressive 23.9% growth, and it paints a picture of a manufacturing engine that’s running hotter than most economists expected.
The data, released by China’s General Administration of Customs on September 8, shows a trade surplus that ballooned to $119.09B in August, up from $112.5B the prior month.
What’s driving the numbers
Three sectors are doing the heavy lifting: semiconductors, high-tech products, and Chinese-made vehicles.
The import side of the ledger was equally notable. Inbound goods rose 28.2% to $282.36B, though some forecasters had expected an even larger increase.
