MNI 5 THINGS: China July Imports Surge; Exports Growth Strong

     BEIJING (MNI) - China's General Administration of Customs announced July

trade statistics on Wednesday. Below are five major points we learned: 

     - July exports rose by 12.2% y/y to USD215.57 billion, above the 11.3% y/y

growth in June and MNI's survey's 10.5% y/y growth. Exports for the first seven

months increased by 12.6% y/y to USD1.39 trillion, stronger than the 8.3% y/y

reading in the same period in 2017. 

     - Imports in July jumped 27.3% y/y increase to USD187.52 billion, up from

last month's 14.1% y/y growth and well above market's survey of 17.6%. China

lowered import tariffs on a host of consumer goods and auto starting July 1.

Imports in the first seven months amounted to USD1.22 trillion, 21.0% higher

than a year ago.

     - Trade surplus in July narrowed to USD28.05 billion, the smallest surplus

for July in five years. Year-to-date surplus came in at USD166.10 billion, the

lowest reading in four years. 

     - China's exports to the U.S. in July rose 11.2% to USD41.54 billion.

Imports from the U.S. rose 11.1% y/y at USD13.45 billion. The surplus was kept

steady at USD41.54 billion compared with $42.62 bln last month.

     - Autos imports in July surged by 3.6 times in volume to 165,000 from

45,000 in June, and auto parts imports jumped by 78.8% to $3.15 bln from $2.92

bln in June.

--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com

--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com

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