9月份中國貿(mào)易順差創(chuàng)半年來最低

China’s export growth came in lower than forecast in September as an unexpected jump in the value of imports resulted in the country’s smallest trade surplus in half a year. But the latest data also showed the largest nominal trade surplus with the US on record, based on figures dating back to 1993.

9月份，中國出口增速低于預(yù)期，進(jìn)口總值意外躍升，導(dǎo)致中國貿(mào)易順差創(chuàng)半年來最低。但最新數(shù)據(jù)還顯示，根據(jù)可回溯到1993年的數(shù)據(jù)，中國對美國的名義貿(mào)易順差達(dá)到有記錄以來最高。

The dollar value of outbound shipments rose 8.1 per cent year on year in September to $198.3bn, according to the General Administration of Customs, up from a rise of 5.5 per cent in August but missing a median forecast of 8.8 per cent from economists surveyed by Reuters.

根據(jù)中國海關(guān)總署的數(shù)據(jù)，以美元計，9月份中國出口同比增長8.1%，至1983億美元，比8月份5.5%的同比增幅要高，但不及路透(Reuters)調(diào)查的經(jīng)濟(jì)學(xué)家給出的8.8%的預(yù)期中值。

Imports climbed more than expected, however, rising 18.7 per cent from a year prior to $169.8bn and outperforming a median forecast predicting growth in inbound shipments would edge up just 0.2 percentage points from August’s pace of 13.3 per cent.

然而，以美元計，9月份的進(jìn)口增速超過預(yù)期，進(jìn)口同比增長了18.7%，至1698億美元，而預(yù)期中值為較8月份13.3%的增速僅高出0.2個百分點。

Growth in commodities imports remained robust in volume terms, with shipments of iron ore rising 10.6 per cent year on year to a record 102.8m tonnes. The uptick in shipments comes despite recent falls in the commodity’s price as authorities demand steel mills curb output to reduce pollution during the winter heating season.

大宗商品進(jìn)口量增長仍然穩(wěn)健。鐵礦石進(jìn)口同比增長了10.6%，達(dá)到創(chuàng)紀(jì)錄的1.028億噸，盡管隨著中國政府要求鋼鐵廠在冬季取暖季期間限產(chǎn)以減少污染，鐵礦石價格近期出現(xiàn)了下跌。

Analysts at ANZ suggested the rise was due to demand from Chinese steel mills for higher-grade iron ore. Looking at the broader picture for trade, they said a “lack of build in stockpiles suggests strong underlying demand, rather than restocking, was the main driver” behind the latest figures.

澳新銀行(ANZ)分析師表示，進(jìn)口增加是由中國鋼鐵廠對較高品位鐵礦石的需求導(dǎo)致的。他們表示，從更宏大的貿(mào)易圖景來看，“庫存未增多意味著，強勁的潛在需求而非補充庫存才是(最新數(shù)據(jù)背后的)主要驅(qū)動力”。

The jump in import value resulted in China’s trade surplus dipping to $28.5bn, down $13.5bn from August to the lowest level since March and counter to expectations it would fall just $2.5bn.

進(jìn)口總值增加使得中國的貿(mào)易順差縮窄至285億美元，較8月份減少135億美元，為今年3月以來最低，預(yù)期值是僅較8月份減少25億美元。

However China’s trade surplus with the US climbed to $28.1bn in September, up almost $2bn from August and marking the largest on record not adjusted for inflation, according to data from CEIC sourced to China’s customs administration and reaching back to January 1993.

然而，根據(jù)CEIC取自中國海關(guān)總署以及可回溯到1993年1月的數(shù)據(jù)，9月份中國對美國的貿(mào)易順差擴大至281億美元，較8月份高出近20億美元，為未經(jīng)通脹調(diào)整的歷史最高水平。