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MNI BRIEF: China July Exports Slow Unexpectedly To 7% Y/y

MNI (Singapore)
(MNI) Beijing

China's exports rose for the fourth consecutive month by 7.0% y/y in July, though missing the 9.9% market consensus and decelerating from June’s 8.6%, with expansion in the first seven months totalling 4.0%, data released by Customs on Wednesday showed.

Imports grew by 7.2% y/y, reversing June's 2.3% decline and beating the 4.2% forecast. Imports increased 2.8% y/y over the Jan-Jul period, quickening from 2.0% in H1.

China’s trade surplus in the first seven months hit USD518 billion, with July contributing USD84.65 billion.

China’s foreign trade grew 6.2% y/y in the first seven months, with a total value of CNY24.8 trillion, hitting a record high for the same period, the Customs said.

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