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Oct 15, 2024

China’s export growth slows in September as ‘wake-up call’ interrupts banner run | South China Morning Post

China’s September exports rose 2.4 per cent from a year earlier, underperforming against projections, while imports rose by 0.3 per cent China’s export growth slowed in September, with customs

China’s September exports rose 2.4 per cent from a year earlier, underperforming against projections, while imports rose by 0.3 per cent

China’s export growth slowed in September, with customs officials citing extreme weather disruptions, global shipping congestion and base effects as contributing factors, although shipments to the United States grew at a faster pace than to the European Union.

Exports grew by 2.4 per cent year on year to US$303.71 billion in September, according to customs data released on Monday.

Customs spokesman Lu Daliang said the reading had been affected by “short-term incidental factors”, such as frequent typhoons in the port cities, a higher base last year and global shipping congestion.

“Some data shows that the peak export season for some Chinese products in previous years was in the third quarter, but this year it has been advanced by more than a month due to the congestion,” Lu said.

Imports, meanwhile, rose by 0.3 per cent from a year earlier in September, compared to the 0.5 per cent growth seen in August.