* September exports + 28.1% y / y vs. + 21% forecast in the Reuters poll
* Sept imports + 17.6% year / year vs + 20% forecast
* September trade balance $ 66.76 billion against $ 46.8 billion forecast
BEIJING, Oct. 13 (Reuters) – Chinese exports grew faster than expected in September, as strong global demand offset some of the pressure on factories from power shortages and the resurgence of domestic cases of COVID-19.
China’s exports in September rose 28.1% from the previous year, compared to 25.6% in August. Analysts polled by Reuters predicted that growth would slow to 21%.
The world’s second-largest economy has seen a strong rebound from the COVID-19 pandemic, but there are signs that the recovery is faltering. New problems, including strong demand for raw materials and supply bottlenecks, have clouded China’s economic outlook.
Electricity shortages caused by a transition to clean energy, strong industrial demand and high commodity prices have halted production at many factories, including many supply companies such as Apple and Tesla.
Recent data indicates a slowdown in production activity. China’s manufacturing PMI unexpectedly contracted in September as industrial companies battled rising costs and power rationing.
Imports rose 17.6%, trailing an expected gain of 20% in a Reuters poll and compared to growth of 33.1% the previous month.
China posted a trade surplus of $ 66.76 billion in September, while the poll forecast a surplus of $ 46.8 billion and a surplus of $ 58.34 billion in August.
Many analysts expect the central bank to inject more stimulus by reducing the amount of liquidity banks are required to hold as reserves later this year to help small and medium businesses.
China has largely contained the coronavirus outbreaks caused by the more infectious Delta variant, but analysts say the country’s “zero tolerance” COVID-19 policy and stretched international shipping capacity could be constraints.
China’s trade surplus with the United States reached $ 42 billion, according to Reuters calculations based on customs data, from $ 37.68 billion in August.
Last week, senior trade officials from the United States and China reviewed the implementation of the United States-China Economic and Trade Agreement.
The United States pressured China to meet its commitments under a âphase 1â trade deal that eased a long tariff war between the world’s two largest economies. The phase 1 agreement is due to expire at the end of 2021.
(Reporting by Colin Qian, Stella Qiu and Gabriel Crossley; Editing by Jacqueline Wong)