China's exports surged by more than 36% last month, fueled by a global boom in artificial intelligence (AI) investment. High-tech products, including semiconductors and computer-related equipment, led the increase, while automobile exports, including electric vehicles, also showed strong performance.
The General Administration of Customs announced on October 14 that September exports totaled $447.18 billion, marking a 36.3% increase compared to the same month last year. This figure significantly surpassed the market forecast of 25.5% compiled by Reuters and exceeded the 25.0% growth rate recorded in August. Imports also rose to $313.65 billion, up 31.0%, exceeding both the market expectation of 24.5% and the August growth rate of 28.2%. Consequently, the trade surplus for September expanded to $133.53 billion, bringing the cumulative trade surplus for the first nine months of the year to approximately $938 billion.
The key driver behind the export surge is the increased investment in the AI sector. Major global tech companies are pouring substantial funds into building data centers and AI infrastructure, leading to a rise in demand for semiconductors and computer equipment.
According to customs statistics, semiconductor exports from China increased by 108.1% in the first nine months of the year compared to the same period last year. Exports of automatic data processing equipment and components also rose by 54.6%. Additionally, automobile exports emerged as a significant growth driver, with a 54.3% increase during the same period. Electric vehicles and plug-in hybrids are gaining traction in overseas markets, including Southeast Asia, Europe, and Latin America.
Notably, the import growth rate has also surpassed 30%. This increase is attributed to the rising demand for AI-related equipment and industrial products.
* This article has been translated by AI.
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