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China's trade surplus shrinks 14 pct in August
Last Updated: 2017-09-08 16:23 | Xinhua
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China's exports in yuan-denominated terms rose 6.9 percent year on year in August while imports increased 14 percent, customs data showed Friday.

That led to a monthly trade surplus of 286.5 billion yuan (about 44 billion U.S. dollars), down 14 percent year on year, according to the General Administration of Customs.

Total foreign trade reached 2.41 trillion yuan last month, up 10 percent from a year earlier.

In the first eight months combined, exports increased 13 percent year on year while imports rose 22.5 percent, resulting in a 15-percent decline in trade surplus.

Foreign trade in the first eight months totaled 17.83 trillion yuan, up 17 percent year on year.

During this period, trade with the EU, China's largest trade partner, climbed 16 percent from a year earlier to 2.71 trillion yuan.

Meanwhile, trade with the United States, ASEAN and Japan went up by 19 percent, 19.9 percent and 15.4 percent, respectively.

Exports of machinery, electronics and labor-intensive products continued to expand in the first eight months, while the volume of steel exports dropped 28.5 percent year on year to 54.47 million tonnes.

A leading indicator of China's exports stayed flat month on month at 41.9 in August, signaling stable export potential.

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