China’s exports slowed in August, while imports accelerated

Almaty. September 8. Silkroadnews – China’s exports slowed in August, while imports accelerated, the Seattle Times reported.
“China’s export growth weakened in August as global demand softened while imports showed unexpected strength despite expectations of a slowdown in the world’s second-largest economy”, the report said.
It is noted that exports grew 5.5% compared to the previous year and amounted to $199.2 billion, though decreased 7.2% compared to July growth. Import rose 13.3% to $157.2 billion, compared to the 11% growth in the previous month.
According to expectations by the International Monetary Fund, this year economic growth will decrease from 6.7% to 6.6% to be followed by below 6.2% in 2018.
The export growth was unexpectedly rapid in the first half of the year, which is a positive sign for Chinese leaders who want to avoid job losses in trade-related industries.
“China has been credited with helping to support global demand and weaker imports might hurt suppliers for whom this country is a major market. China’s global trade surplus declined by 19 percent in August from a year earlier to $42 billion”, the publication reads.
The politically sensitive trade balance with the US increased by 4% to $26.2 billion, while China’s trade surplus with the European Union, its biggest trading partner, declined 14% to $11.7 billion.