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MNI DATA IMPACT: China Aug Exports Resume Decline;Imports Fall

MNI (Singapore)
     BEIJING (MNI) - China's August exports returned to negative year/year
growth, continuing a volatile pattern caused by the uncertainties over its trade
war with the U.S. and overall weak global demand. Imports continued to shrink as
consumption weakens.  
     Here are the key points in the release by the General Administration of
Customs on Sunday:
     - Exports fell 1.0% y/y to $214.80 billion, reversing a 3.3% y/y growth in
July and was short of forecast 2.6% y/y by MNI survey. Exports in the first
eight months expanded 0.4% from last year.
     - Imports dropped 5.6% y/y to $179.97 billion, continuing the same pace
last month and meeting projection by MNI. Imports in Jan-Aug were down 4.6% y/y.
     - Trade surplus shrank for the third month to $34.83 billion from $45.06
billion in July, rounding the year-to-date total to $259.27 billion.
- Exports to the U.S. fell 16.0% y/y, following 6.5% drop in July, while imports
plunged 22.4%. Exports to the EU slowed to 3.2% y/y compared with 6.5% in July.
Imports from the EU fell 5.2% y/y, following 3.3% y/y drop recorded in the
previous month. 
--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
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