China exports less again in September
China’s official statistics show that Chinese exports in September were down 0.3 % from a year earlier and they might have slowed in September to +1.7 %, compared to + 7.2 % in August
Chinese exports amounted in August to USD 185.6 billion and imports increased by 7.4 % to USD 170.4 billion. The reasons are multiple, one is the announced changes in America’s monetary politics, and that China was forced to seek more exports in its region, because of the difficult economic climate in Europe and the USA. However, particularly exports to South East Asia were declining markedly in comparison to a few months ago, and only trade with Japan was on an uptrend after many months.
September figures of 2012 were a sort of embellished because of phony exports to Hong Kong, but these procedures were stopped by Chinese authorities. The moon holidays were almost matching the October vacations and the outside value of the Chinese currency was up. The strong imports reflect a robust domestic demand and fuel imports were at record level. The growth of the economy is based upon investment in realty and infrastructure. The further data to be released will reflect on how robust the Chinese economy really is.