China's September exports climb 36.3% on AI-driven demand
Shipments abroad jumped by over a third, the steepest rise since the COVID-19 outbreak, while imports climbed 31 percent.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
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What happened
China's exports rose 36.3% in September, the steepest rise since the COVID-19 outbreak, according to official figures released Wednesday. Imports climbed 31%, widening the trade surplus to $133.53 billion. Chip exports reached a monthly record of $44.95 billion as demand for AI computing gear and storage grew.
Why it matters
The strong figures put China on course for a record annual trade surplus, which is likely to bring more friction with the European Union and the United States.
Timeline
- Oct 14, 2:18 AM ET: China's exports soared in September, putting the country on course for a record annual trade surplus.
- Oct 14, 10:52 AM ET: China's trade surplus reached $938 billion in the first nine months, with expectations it could surpass last year's record of $1.2 trillion.
- Oct 14, 1:12 PM ET: China's trade with Belt and Road partner countries rose 17.1% year on year to 20.37 trillion yuan in the first three quarters.
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