(Photo : Yangsan deepwater port of shanghai international shipping center)

The Customs Administration of China announced that the country's August export went up 7.2 per cent from a year earlier while imports soared 7 per cent. The figures mean China now has a trade surplus of about $28.6 billion for the month August.

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Experts said China's exports rose more than what was expected in August due to the continuous improvement in demand for the country goods in major markets around the world. These also give proof the claims of analysts that China is on its way to recovery by the end of this year.

The figures proved that the country's economy is stabilizing, experts said, after slowing in the past nine quarters. Last week, the country's manufacturing and service indices also tallied rising figures to as much as a five-month high.

Economists Liu Li-Gang and Zhou Hao told Reuters that the import and export figures point to an upside bias in third quarter Gross Domestic Product (GDP) growth.

Electronics, Machinery Exports Up

According to the figures released by the Chinese Customs Administration on Sunday, exports of electronics, machinery, and fabrics went up in August.  Exports of electronics and machinery products grew by 6.8 per cent to hit $106.54 billion last month, accounting for 55.9 per cent of the total exports.

China's exports to Southeast Asian nations soared 30.8 per cent in August while exports to the United States also went up 6.1 per cent from July's 5.3 per cent growth.

China's exports to the European Union went up 2.5 per cent while exports to Japan dropped for seven months up to August.

Foreign Trade Soars

Total foreign trade grew 7.1 per cent last month over the same period of 2012 to $352.85 billion, said the figures released by the country's customs.

The export and import figures were the latest sign of China's economic stabilization following the announcement that the manufacturing purchasing managers' index of the country went up 51 per cent last month, its best showing yet in 16 months.

Analysts said the PMI improvement now allows the country's policy decision-makers more leeway to carry on structural reforms.