Imports into China hit their highest dollar amount in September, as the world’s second-largest economy increased purchases of iron ore, agricultural commodities and semiconductors as part of an accelerating recovery from coronavirus, reported the Financial Times.
Imports last month were up 13.2% year-on-year to $203 billion, by far the biggest jump in 2020, customs data showed on Tuesday. The previous record for a single month was in September 2018, before the trade war with the US escalated, said the FT.
The new figures, which also showed exports rising at their fastest rate this year, underline China’s booming trade activity at a time when other economies are still struggling to shake off the effects of the pandemic.
China’s exports, which have risen in each of the past four months and helped fuel a domestic recovery, have been bolstered by strong sales of electrical devices and medical equipment and leapt 9.9% in September.