China's exports fell by 2.8% in August over the same period in 2015, while imports grew by 1.5% for the first time in 22 months, the General Administration of Customs said Thursday. Both figures were better than experts’ expectations who forecasted fall in exports by 4% and in imports by almost 5%. China's exports fell by 4.4% in July and imports by - 12.5%. The positive balance of trade turnover in August was $52 billion against forecasts of $58 billion. The volume of foreign trade fell by 1.1% in August compared to 2015 amounting to 329.1 billion. In late April, the State Council of China announced that it would take a number of measures in order to maintain foreign trade, including the expansion of export credit insurance and an increase in tax rebates to exporters. The total volume of China's foreign trade made up $3.9 trillion in the end of 2015.
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