China's total goods imports and exports up 3.5 per cent in August

China's total goods imports and exports increased 3.5 per cent year-on-year in August, marking the third consecutive month that both exports and imports achieved simultaneous growth, a spokesman of the National Bureau of Statistics (NBS) said.

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According to China Central Television (CCTV), spokesman Fu Linghui said at a press conference in Beijing that imports and exports of goods continued to grow, while the trade structure continued to improve.

“In August, the total value of imports and exports of goods was 3.8744 trillion yuan (about $543.80 billion), up 3.5 per cent from the previous year. Specifically, the total value of exports amounted to 2.3035 trillion yuan, an increase of 4.8 percent, and the total value of imports stood at 1.5709 trillion yuan, up by 1.7 per cent,” he said.

China’s economic slowdown deepened in August with a raft of key indicators missing expectations.

Retail sales last month rose 3.4 per cent from a year earlier, data from the National Bureau of Statistics showed Monday, missing analysts’ estimates for 3.9 per cent growth and slowing from July's 3.7 per cent growth.