China's August exports up 34.4%, imports rise 35.2%

BEIJING - China's exports increased 34.4 percent in August from a year earlier to $139.3 billion, but the pace of growth slowed from July's 38.1 percent surge, the General Administration of Customs (GAC) said Friday.

China's trade surplus for the first eight months of the year totaled $103.9 billion, down 14.6 percent from the same period last year, the GAC said.

Trade with the European Union, China's largest trade partner, jumped 36.2 percent year-on-year to $305.81 billion in the January-August period, the GAC said.

Trade with the United States climbed 32 percent to $242.61 billion during the period while that with Japan rose 34.8 percent to hit $186.89 billion.

During the first eight months, China's iron ore imports inched up 0.1 percent year-on-year to 410 million tons while the average import price surged 55.1 percent to $118.6 per ton.