2024年8月贸易数据点评：出口强、进口弱，背后原因何在？

Export Performance - In the first eight months of 2024, China's total goods trade amounted to $40,210.3 billion, a year-on-year increase of 3.7%[3] - Exports reached $23,147.7 billion, growing by 4.6% year-on-year, while imports totaled $17,062.7 billion, with a growth of 2.5%[3] - The trade surplus expanded to $608.5 billion, up from $547.3 billion in the same period of 2023[3] Monthly Trends - In August 2024, exports increased by 8.7% year-on-year, up 1.7 percentage points from July, while imports grew only 0.5%, down 6.7 percentage points[3] - The trade surplus for August reached $91.02 billion, higher than the $67.22 billion surplus in the same month last year[3] Sector Analysis - Mechanical and electrical products saw an export increase of 11.9% in August, while high-tech products grew by 9.1%, although the latter's growth rate decreased by 2.4 percentage points from the previous month[8] - Labor-intensive goods showed a mixed performance, with most categories experiencing a decline in export growth rates[7] Import Dynamics - Agricultural imports, particularly grains and soybeans, showed signs of recovery, with grain imports increasing by 6.1% year-on-year[10] - However, the import growth of raw materials and mechanical products was hindered, with significant declines in iron ore and copper imports[11] Trade Partner Performance - Exports to the US, EU, Japan, and South Korea all saw an increase, while imports from the EU and South Korea declined[5] - ASEAN remained China's largest trading partner, with trade totaling $632.67 billion, a 7.6% increase year-on-year[5]