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China’s exports surge amid AI-driven demand
Al Jazeera • • business
Key Points:
- China’s exports surged 36.3% year-on-year in September to $447.18 billion, marking the largest monthly increase since 2021 and accelerating from a 25% gain in August.
- Tech-related exports led the growth, with semiconductor shipments rising over 108% and automatic data processing machines increasing nearly 55%.
- Imports also grew strongly by 31% year-on-year, contributing to a trade surplus of $938.1 billion in the first nine months of 2023.
- The Association of Southeast Asian Nations (ASEAN) was China’s largest export market, followed by significant increases in exports to the EU and the US.
- Despite strong export performance, China faces challenges from a slowing domestic economy, demographic decline, and weak consumption, with experts emphasizing the need to rebalance growth for sustainable long-term expansion.
