China’s export growth accelerates 25% in August as high-tech and auto shipments surge

China just posted its strongest export month of the year, with outbound shipments climbing 25% year-on-year in August to $401.44B. That’s an acceleration from July’s already impressive 23.9% growth, and it paints a picture of a manufacturing engine that’s running hotter than most economists expected. The data, released by China’s General Administration of Customs on September 8, shows a trade surplus that ballooned to $119.09B in August, up from $112.5B the prior month. What’s driving the numbers Three sectors are doing the heavy lifting: semiconductors, high-tech products, and Chinese-made vehicles. The import side of the ledger was equally notable. Inbound goods rose 28.2% to $282.36B, though some forecasters had expected an even larger increase. Year-to-date exports through August have now reached $2.92 trillion, a 19.3% increase over the same period last year. Perhaps the most politically charged number in the entire release: shipments to the United States surged 34.4% year-on-year to $42.5B. That jump came ahead of anticipated high-level diplomatic meetings between the two countries. Seasonal tailwinds and logistical headwinds Some of the August spike can be attributed to seas...