Link Securities | China’s General Administration of Customs reported early this morning that the September trade surplus rose to $66.67 billion, up from a consensus expected reading for a $45 billion surplus, and up from a figure of $53.3 billion in August.
Dollar exports rose by 28.1% y-o-y, against a consensus reading of 21.5%, and compared with a 25.6% increase in August. Meanwhile, imports rose 17.6 per cent year-on-year, compared with 20.9 per cent expected and 33.1 per cent year-on-year in August.
The customs agency said trade still faces many uncertainties as the complexity of the external environment is increasing. It foresees that Q4’2021 foreign trade will soften due to the high comparative base, although the upward trend will remain intact.