Export grows at fastest in 17 months, supports economy
Imports fail to impress, underlines weak domestic demand
Exports possibly bolstered by shippers rushing to avoid tariffs
Trade barriers could undercut China39;s broad efforts to lift growth
BEIJING, Sept 10 Reuters China39;s exports grew at their fastest pace in nearly 112 years in August, suggesting manufacturers are rushing out orders ahead of tariffs expected from a growing number of trade partners, while imports missed forecasts amid weak domestic demand.
The mixed trade data highlights the challenge facing Beijing as policymakers try to bolster overall growth without becoming too reliant on exports especially given the tightening of consumers39; purse strings.
China39;s economy has failed to fire over the past year amid a prolonged property sector downturn, and a survey last week showed exports in the doldrums and factory gate prices at their worst in 14 months, pointing to producers slashing prices to find buyers.
Outbound shipments from the world39;s secondlargest economy grew 8.7 yearonyear in value last month, the quickest since March 2023, customs data showed on Tuesday, beating a forecast 6.5 increase in a Reuters poll of economists and a 7 rise in July.
But imports increased by just 0.5, missing expectations for a 2 boost and down from the 7.2 growth a month prior.
The strong export performance and trade surplus is favourable to economic growth in the third quarter and whole year, said Zhou…