MNI DATA BRIEF: China Sept Exports See Solid Growth +33.0% YTD

China's exports in September jumped 28.1% y/y to USD305.74 billion, boosted by recovering overseas demand and strong sales of electronic and labor-intensive products, data from China General Administration of Customs on Wednesday showed.

Exports marked a 16th straight monthly increase with customs adding that exports recovery has further consolidated, but that the pandemic as well as a more complicated external environment are still challenging.

The trade surplus expanded to USD66.76 billion from USD58.34 billion, the widest so far this year. Imports, on the other hand, slowed to 17.6% y/y growth at USD238.98 billion in September, partly due to the fast-rising commodity prices.

Total exports In the first three quarters rose 33.0% y/y. Shipments to the U.S. soared nearly 33% y/y, while those to the EU and Japan gained almost 32.0% and 18.0%, respectively. Imports increased 32.6% y/y in the Jan-Sep period. Total imports from the U.S. in this period surged 43.5% y/y, while those from the EU and Japan rose nearly 28% and 22.2%, respectively.