China’s exports for August 2020 were 9.5% higher than during the same month in 2019, according to data released by the country’s General Administration of Customs. Meanwhile, China’s dollar-denominated imports in August 2020 fell 2.1% year-on-year.
For the month of August 2020, the country posted a trade surplus of $58.93 billion, as compared to the $62.33 billion trade surplus seen in July 2020,
Some economists say that China’s strong export numbers over three consecutive months will drive growth in the second half of the year, while others caution that export growth has been driven mainly by demand for PPE (personal protective equipment) and work-from-home items such as computers at the height of the global coronavirus pandemic and related shutdown across much of the world. They warn that the strong sales are likely to slow in the months ahead, as the outbreak is gradually controlled. Other factors that may cause export growth to slow include the upcoming U.S. presidential election in November and the tension between the US and China. China’s trade surplus with that country widened to $34.24 billion in August compared to $32.46 billion in July.