China's August trade: exports rise slowly, imports up, large surplus

China's exports continued to grow in August but at a markedly slower pace and below market expectations, while imports weakened, leaving the country with a swollen trade surplus, customs data released Monday showed. Outbound shipments rose 4.4 percent year on year to $321.8 billion in August, down from a 7.2 percent gain in July, and imports were reported at about $219.5 billion, leaving a trade surplus of $102.33 billion for the month.

The customs figures indicated that export growth fell short of many forecasts and that import momentum flagged, suggesting domestic demand remains tepid. In dollar terms imports rose roughly 1.3 percent year on year, according to the customs release, though a small number of reports cited a slightly higher 1.8 percent increase. The variation reflects different ways of calculating or rounding the data, officials and analysts said.

Although headline exports expanded, the composition of trade is shifting. Shipments to the United States plunged about 33 percent in August to $47.3 billion, while China’s imports from the United States dropped roughly 16 percent to $13.4 billion, underscoring the dampening effect of elevated tariffs and strained...