China Records Export Growth in July
(MENAFN) China’s overseas shipments exceeded market projections in July, even as trade discussions with the United States continue, and inbound trade saw its most significant monthly expansion since July 2024.
Exports from the globe’s second-biggest economy advanced by 7.2% in July compared to the same month last year, surpassing predictions of a 5.4% climb.
At the same time, imports increased by 4.1% on a yearly basis, defying expectations of a 1% contraction during the month, based on customs statistics issued on Thursday.
Owing to the rise in imports, China’s international trade surplus reached $98.24 billion in July, which was under the forecasted $105.2 billion.
So far this year, China's overall exports have grown 6.1% versus the previous year, while inbound goods have decreased by 2.7%.
From January to July, China registered a trade surplus of $683.5 billion, marking a 32% surge compared to the same stretch in 2024.
In a separate development, China’s industrial production showed an unforeseen dip in July, reaching its lowest point in three months.
The official manufacturing purchasing managers' index (PMI) dropped to 49.3 from June’s 49.7, falling short of the expected 49.7.
Negotiators from the US and China have yet to finalize a trade agreement that could avert substantial tariffs once their ceasefire concludes on August 12.
Earlier this week, US President Donald Trump stated that the US and China are "rapidly narrowing gaps" on a trade agreement.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
