China's foreign trade continued to expand in the first eight months of the year, with imports and exports increasing 10.1% from the same period last year, despite manufacturing hub Shanghai and Shenzhen being locked down by COVID-19 in the first half of the year, customs data showed Wednesday.

In the first eight months, the country's total imports and exports rose to 27.3 trillion yuan ($3.91 trillion). Exports grew 14.2% year on year to 15.48 trillion yuan and imports increased by 5.2% to 11.82 trillion yuan. Meanwhile, China's trade surplus jumped 58.2% to 3.66 trillion yuan, data from the General Administration of Customs (GAC) showed.

China's trade value with the Association of Southeast Asian Nations (ASEAN)  grew by 14%, with the EU by 9.5% and with the US by 10.1%. In the same period, China's imports and exports with countries along the Belt and Road routes jumped 20.2% to 8.77 trillion yuan.

In August alone, China's total foreign trade expanded 8.6% over the last year to 3.71 trillion yuan. But its exports to the US fell 3.8% in this month from a year earlier, the first contraction since May 2020.

Exports of smartphones, home appliances and semiconductors all contracted about 10% in volume in the first eight months, while auto exports remained resilient, surging 56% in value, making it one of the fastest-growing exports alongside rare earths and aluminum, according to customs data.

Higher prices for exports, rather than a boost in volumes, may be playing bigger role in driving up the figures, according to Bloomberg, citing Macquarie Group.