China's exports soared by 36.3% in September, significantly exceeding market expectations, fueled by a global boom in artificial intelligence (AI) investment. The surge is attributed to rising semiconductor prices and strong demand for high-value products.
According to the General Administration of Customs, China's exports in September totaled $447.18 billion, up from the same month last year. This figure far surpassed the previous month's growth rate of 25.0% and the market forecast of 25.5% compiled by Reuters.
A key driver of this export boom is the dramatic increase in semiconductor (integrated circuit) exports, which rose by 136% year-on-year to $44.95 billion.
Wang Qing, a senior macro analyst at Dongfang Jincheng, noted, "The rise in unit prices is the strongest driving force behind the robust growth in semiconductor exports."
Imports also saw a significant increase, rising 31.0% year-on-year to $313.65 billion, exceeding market expectations of 24.5%. This resulted in a trade surplus of $133.53 billion for September.
Wang Jun, a spokesperson for the General Administration of Customs, expressed optimism, stating, "In the fourth quarter, the fundamentals of exports will remain solid, supported by a modern industrial system centered on advanced manufacturing."
* This article has been translated by AI.
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