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China’s trade surplus widened sharply to USD 58.93 billion in August 2020 from USD 34.72 billion in the same month the previous year and far above market expectations of USD 50.5 billion.
Exports rose by 9.5 percent, the fastest pace since March last year, while imports unexpectedly fell by 2.1 percent.
The country’s trade surplus with the United States widened to USD 34.24 billion in August from USD 32.46 billion in July.
Meanwhile, Washington and Beijing both nations reaffirming their commitment to a phase1 trade deal.
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