New figures released Tuesday by the Chinese government show the world’s second-largest economy continues its rapid recovery from the height of the coronavirus pandemic.
Chinese exports rose 9.9% in September compared to a year ago, and a significant increase from the 9.4% figure posted in August. Analysts say the rise in exports was spurred on by global demand for Chinese-made personal protective gear and other medical supplies to curb the spread of COVID-19.
China’s global trade surplus last month was $37 billion, down from the $58.9 billion posted in August.
The country’s $30.75 billion trade surplus with the United States in September dropped from the $34.24 billion figure posted in August, as the two countries engaged in a tit-for-tat trade war sparked by the Trump administration’s efforts to curb Beijing’s technology ambitions and trade surplus.
Imports surged to 13.2% in September, far above the 2.1% contraction reported the month before. A poll conducted by Reuters had predicted an anemic 0.3% increase for September.
China’s economy was the first in the world affected by the outbreak of the novel coronavirus, which was first detected late last year in the central city of Wuhan. But it has become the first to bounce back to pre-virus growth levels in the second quarter of 2020, climbing 3.2 percent.