China's exports remain weak amid downturn

BEIJING - China's exports improved slightly in August, indicating prolonged weakness in the global economy, according to data released Monday by the General Administration of Customs.

Exports increased 2.7 percent year-on-year to $177.97 billion in August, up from 1 percent recorded in July but marking a sharp drop from 11.3 percent growth in June.

Imports dropped for the third consecutive month, falling 2.6 percent from a year earlier to $151.31 billion in August.

The trade surplus rose moderately to $26.66 billion in August from $25.2 billion the previous month, according to the GAC data.

In the January-August period, total foreign trade reached $2.5 trillion, an increase of 6.2 percent from last year but below the 10-percent full-year growth target set by the government for 2012.

China's trade with the European Union, its largest trade partner, dropped 1.9 percent year-on-year in the January-August period to $365.05 billion, figures show.

During the period, trade with Japan dipped 1.4 percent from a year earlier to $218.7 billion.

Meanwhile, trade with the United States, the country's second-largest trade partner, climbed 9.6 percent year-on-year to $312.97 billion in the first eight months, according to the GAC.