China’s exports surge amid AI-driven demand
Exports grew by 36.3 percent in September, the biggest leap since the COVID-19 pandemic.
Key points
- China's exports rose 36.3 percent year-on-year in September to $447.18bn, the biggest monthly gain since 2021.
- Semiconductor exports surged more than 108 percent and automatic data processing machine shipments jumped nearly 55 percent, driven by AI-related demand.
- China posted a $938.1bn trade surplus in the first nine months of the year, with ASEAN its largest export market.
China's exports jumped by more than one-third in September, according to government figures released on Wednesday, giving a boost to the world's second-largest economy as it faces slowing growth.
Exports grew 36.3 percent year-on-year last month to $447.18bn, accelerating from a 25 percent gain in August. The General Administration of Customs figures show the biggest monthly rise since 2021, when trade was distorted by the COVID-19 pandemic and strict lockdowns.
Tech trade drives the increase
Technology-related trade led the growth. Semiconductor exports surged more than 108 percent, while shipments of automatic data processing machines jumped nearly 55 percent.
Imports rose 31 percent year-on-year, up from 28.2 percent in August. In the first nine months of the year, total exports climbed 21.3 percent to $3.37 trillion and imports gained 27.5 percent to $2.43 trillion, producing a trade surplus of $938.1bn.
Main markets and outlook
ASEAN was China's biggest export market by a wide margin, with September exports rising more than 52 percent to $81.7bn. Exports to the European Union rose 25.3 percent to $60.15bn, and shipments to the United States jumped 39.6 percent to $47.88bn.
China is seeking new sources of growth as it deals with a falling population, a deflating property market and weak domestic consumption. The IMF expects the economy to grow 4.5 percent in 2026, which would be its slowest expansion since 1990 apart from the pandemic years.
