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2025年9月进出口数据:进出口增速双双明显回升
Donghai Securities·2025-10-14 05:13

Export Data - In September 2025, exports increased by 8.3% year-on-year, up from 4.4% in the previous month[2] - The export value reached $328.57 billion, marking a new high for the year[2] - Exports to Africa and Latin America saw significant growth, with year-to-date increases of 28.3% and 6.9% respectively[2] Import Data - Imports rose by 7.4% year-on-year, compared to 1.3% in August[2] - The month-on-month increase in imports was 10.3%, significantly above the four-year average of 1.66%[2] - Key imports included copper and copper products, which maintained high growth rates despite a slight decline[2] Trade Balance - The trade surplus for September was $90.45 billion, an increase of $8.69 billion compared to the same month last year[2] Market Trends - The manufacturing PMI for developed countries remains below the growth threshold, indicating ongoing contraction in sectors like manufacturing[2] - The diversification of export markets has been validated, with exports to other regions increasing from 8.11% to 15.55% year-on-year[2] Product Performance - Mechanical and high-tech products showed strong export growth, while labor-intensive products faced pressure, with toys and footwear experiencing declines of 28.0% and 13.3% respectively[2][7] - Notable increases in exports were seen in rare earths (97.1%) and fertilizers (95.4%) compared to the previous month[7]