China’s export growth slows in August under shadow of trade war uncertainty

China’s exports continued to rise in August, though at a slower pace, as global markets watch to see whether the world’s two largest economies can reach a lasting and durable trade deal.

Outbound shipments rose by 4.4 per cent year on year to US$321.8 billion last month, according to customs data released on Monday.

The figure was lower than the 7.2 per cent recorded in July and fell short of the 5.4 per cent forecasted by Chinese financial data provider Wind.

Imports in August, meanwhile, rose by 1.3 per cent year on year to nearly US$219.5 billion, compared to the 4.1 per cent growth in July and 3.8 per cent growth forecast by Wind, suggesting little improvement in domestic demand.

China’s trade surplus expanded to US$102.3 billion.

The world’s top goods exporter had posted stronger-than-expected export growth in recent months – mainly driven by a surge in shipments to Southeast Asia, Europe, Latin America and Africa – which has offset weaker US demand.