China's exports surge 36% as AI demand drives growth

Summarised from 2 outlets · Updated 14 Oct, 10:34 · Archive

China's exports grew 36.3 per cent in September, the biggest monthly rise since 2021, driven by surging demand for semiconductors and AI-related tech.

China's exports grew by 36.3 per cent in September to reach $447.18bn, up from a 25 per cent gain in August. This was the biggest monthly rise since 2021. The surge was driven primarily by tech-related trade, with semiconductor exports rising more than 108 per cent and automatic data processing machines up nearly 55 per cent, reflecting global demand for AI-related products.

Imports also increased strongly, rising 31 per cent year-on-year compared with 28.2 per cent in August. Taylor Wang, an economist at HSBC in Hong Kong, said that 'high-tech demand, supported by the global and domestic AI upcycle, remained the key driver, while China's pricing and supply-chain competitiveness in other major export categories also helped sustain the momentum'.

In the first nine months of the year, China's total exports rose 21.3 per cent to $3.37 trillion, while imports gained 27.5 per cent to $2.43 trillion, creating a trade surplus of $938.1bn. The Association of Southeast Asian Nations was China's biggest export market, with September exports rising more than 52 per cent to $81.7bn. Exports to the European Union rose 25.3 per cent to $60.15bn, whilst shipments to the United States jumped 39.6 per cent to $47.88bn.

China's exports surge 36% as AI demand drives growth — Image: Financial Times

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How it is being reported

China’s exports surge amid AI-driven demandExports grew by 36.3 percent in September, the biggest leap since the COVID-19 pandemic.Al Jazeera · 14 Oct, 10:05
China’s exports surge 36% as AI-related shipments boomImports also soar as high oil prices push up billFinancial Times · 14 Oct, 03:51

In this story: China · ASEAN · European Union · United States · HSBC

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