(Yicai Global) Sept. 7 -- China’s trade surplus widened more than expected last month amid booming exports.

Exports exceeded imports by USD58.3 billion in August, or 24 percent more than chief economists polled by Yicai Global had predicted, according to data the General Administration of Customs published today.

Yicai Research Institute's survey among chief economists at major financial institutions said yesterday that the surplus would tally USD46.9 billion last month.

Between January and August, exports exceeded imports by USD362.5 billion, rising by 29 percent from a year ago, the GAC added.

In the first eight months of 2021, exports totaled CNY2.1 trillion (USD325.3 billion), up almost 34 percent from a year earlier. Imports climbed nearly 35 percent to CNY1.73 trillion. Altogether, exports and imports amounted to CNY3.83 trillion, up more than 34 percent.

China was deepening its ties with its three largest trading partners. The biggest partner was the Association of Southeast Asian Nations. In the eight months, trade volume between the two jumped by 33 percent to USD553.9 billion, making up more than 14 percent of China's total.

The European Union was the Asian country's second-largest trading partner with a 32 percent increase to USD528.9 billion.

The US is No. 3 but growing faster than the above-mentioned two as its trade volume with China surged by almost 37 percent to USD470.3 billion. China's imports from the States soared by 48 percent to USD116.1 billion while its trade surplus was USD238 billion.

Some of the trending export fields involved mechanical and electrical, as well as labor-intensive products. China exported USD1.2 trillion mechanical and electrical products, including mobile phones, household appliances, and cars, in the eight months. Exports of high-tech products rose nearly 29 percent to USD598 billion.

Regarding imports, China was favoring agricultural produce, energy, and high-tech items. The country's agricultural product imports jumped almost 35 percent to USD147.4 billion. Imports of iron ore and crude oil rose significantly. Moreover, the tally of mechanical and electrical products climbed almost 28 percent to USD734 billion and that of high-tech products increased by 28 percent to USD529.6 billion.

Editor: Emmi Laine, Xiao Yi