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Chinese imports at record high as trade surplus narrows

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by ByaseL, Sep 12, 2011.

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    ByaseL JF-Expert Member

    Sep 12, 2011
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    China's imports hit a record monthly high in August, indicating a strong domestic demand despite concerns of a global economic slowdown.
    Imports surged by 30.2% from a year earlier to $155.6bn (£98bn), government data released over the weekend showed.
    Exports rose by 24.5% resulting in a trade surplus of $17.8bn, down from $31.5bn in the previous month.
    The data comes at a time when China has been trying to boost domestic demand in a bid to rebalance its economy.
    "August's export and import data showed China's economic growth is driven by domestic demand, not external demand and its growth is still very strong," said Li-Gang Liu of ANZ.