China's exports in September hit record high; despite friction with the US and Europe, AI remains strong

[Beijing Current Affairs] According to trade statistics for September released by the General Administration of Customs of China on the 14th, exports amounted to $447.18 billion (approximately 71 trillion yen), an increase of 36.3% from the same month last year, breaking the record for a single month based on preliminary figures. The global artificial intelligence (AI) investment boom has been a tailwind. The trade surplus is also at an all-time high, and trade friction with countries such as the United States and Europe is intensifying.

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Exports exceeded the previous high in June (approximately $412.4 billion). Imports also increased by 31.0% to $313.65 billion, a new record high. The rise in crude oil prices due to the flare-up of tensions in the Middle East also pushed up import prices.

The trade balance, which subtracts imports from exports, was a surplus of $133.53 billion. It exceeded $100 billion for five consecutive months. The cumulative surplus for the period from January to September has already exceeded that of the same period last year, and the total surplus for the whole year is on track to exceed last year's record of approximately $1.2 trillion.

By item, the export value of high-tech products increased by 63.7%. Of this, semiconductors increased by about 2.4 times, and equipment and parts including AI-related devices increased by 92.9%. Exports of automobiles, where overproduction is seen as a problem, also increased by 56.3%.