(Yicai Global) Sept. 8 -- China's exports rose 5.9 percent in August year-on-year, growing for the sixth consecutive month, and indicating that pressure on exports is likely to drop in the fourth quarter.
China's leading export index came in at 34.7 last month, 0.9 higher than in July, according to data released today by the country's General Administration of Customs.
The Chinese-yuan denominated trade surplus reached CNY346 billion (USD51.93 billion) in August, down 5.1 percent year-on-year. That month imports jumped 10.8 percent year-on-year.
The value of exports came to CNY8.84 trillion in the first eight months of the year, down 1 percent year-on-year, while imports reached CNY6.53 trillion, down 2.9 percent year-on-year. The trade surplus stood at CNY2.31 trillion, up 5 percent.
In US dollar terms, China's exports fell 2.8 percent year-on-year in August, less than the 4 percent decline in July, while imports rose by 1.5 percent, compared with a decline of 12.5 percent in July. Trade surplus remained roughly unchanged from the July figures of USD 52.05 billion.