China: Exports rise but weakness remains
Chinese exports rose 9.9% in September year-on-year to a record monthly high.
BEIJING:
Chinese exports rose 9.9% in September year-on-year to a record monthly high, the government said Saturday, but analysts warned the performance was unsustainable given the weak global outlook. The national customs bureau also said the trade surplus of the world’s second-biggest economy, a source of friction with China’s trading partners, widened to $27.7 billion for the month, up from $26.7 billion in August. However, barring a significant improvement in overall trade conditions, the performance was unlikely to be repeated, said Alistair Thornton, China economist with IHS global Insight. “There is no evidence to suggest that global trade activity is picking up, so there is nothing to support stronger Chinese exports,” he said. The world’s largest exporter has been pulled down by weakness in overseas economies including debt-saddled Europe, a major trading partner, as well as a sluggish property market and softening consumer spending.
Published in The Express Tribune, October 14th, 2012.
Chinese exports rose 9.9% in September year-on-year to a record monthly high, the government said Saturday, but analysts warned the performance was unsustainable given the weak global outlook. The national customs bureau also said the trade surplus of the world’s second-biggest economy, a source of friction with China’s trading partners, widened to $27.7 billion for the month, up from $26.7 billion in August. However, barring a significant improvement in overall trade conditions, the performance was unlikely to be repeated, said Alistair Thornton, China economist with IHS global Insight. “There is no evidence to suggest that global trade activity is picking up, so there is nothing to support stronger Chinese exports,” he said. The world’s largest exporter has been pulled down by weakness in overseas economies including debt-saddled Europe, a major trading partner, as well as a sluggish property market and softening consumer spending.
Published in The Express Tribune, October 14th, 2012.