China’s exports and imports both posted strong gains in September, as a recovery in global and domestic demand provided another boost to the world’s second-largest economy.
China’s imports from global markets jumped 13.2% in September from a year earlier after falling 2.1% in August, according to data released Tuesday by the General Administration of Customs.
Exports topped market expectations for a sixth straight month, rising 9.9% from a year earlier in September—the quickest pace in more than a year—as China continued to benefit from coronavirus-fueled demand for medical equipment and work-from-home electronic products.
Taken together, the strong trade figures point to a robust recovery that most economists expect will show China regaining its pre-coronavirus growth trajectory of between 5% and 6% when it reports third-quarter gross domestic product figures on Monday—and through the end of the year.
“In coming months, we expect the export strength to persist and imports may also continue to expand on the back of continued recovery in domestic activity,” Goldman Sachs economists told clients in a note Tuesday.