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China's trade surplus narrows in August

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China's trade surplus narrows in August

China's total trade value in the eight months to August increased 9.1% year over year to 19.43 trillion yuan, China Customs data showed Sept. 8.

Exports rose 5.4% annually to 10.34 trillion yuan, while imports were up 13.7% year over year to 9.09 trillion yuan. Trade surplus narrowed 31.3% to 1.25 trillion yuan.

For the month of August, the total value of China's imports and exports rose 12.7% year over year to 2.71 trillion yuan. Of this, exports rose 7.9% year over year to 1.44 trillion yuan and imports were up 18.8% to 1.27 trillion yuan. Trade surplus narrowed 34.2% to 179.75 billion yuan in the month.

Total trade value between China and the U.S increased 5.9% year over year to 2.67 trillion yuan during the period. The figure accounts for 13.7% of the total value of China's foreign trade.

China's exports to the U.S. were up 6.5% to 1.96 trillion yuan, while imports from the U.S. increased 4.4% to 714.13 billion yuan. Trade surplus with the U.S. stood at 1.24 trillion yuan, up 7.7% year over year.

As of Sept. 7, US$1 was equivalent to 6.84 Chinese yuan.