China’s trade accelerates in August despite coronavirus

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BEIJING (AP) — China’s import and export growth accelerated in August despite disruptions due to the spread of the coronavirus’s delta variant.

Exports rose 25.6% over a year earlier to $294.3 billion, up from July’s 18.9% growth, customs data showed Tuesday. Imports rose 33.1% to $236 billion, up from the previous month’s 28.7%.

That came despite lingering disruptions in industrial production chains due to last year’s global economic shutdown and a renewed rise in infections in the United States and some other markets that has dampened consumer sentiment.

China has so far defied forecasts that export demand would level off as anti-disease controls eased, entertainment and other service industries reopened and foreign rivals returned to global markets.

“Exports and imports were much stronger than anticipated last month thanks to buoyant demand, even as the data point to some lingering supply shortages,” Sheana Yue of Capital Economics said…

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