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MNI BRIEF: China July Exports Jump 18.0% Y/Y

MNI (Singapore)
SINGAPORE (MNI)

China's exports jumped by 18.0% in July from a year ago, following the previous 17.9% increase and beating the market forecast of 14.2%, China Customs data showed on Sunday.

Imports rose 2.3% in July, faster than the 1.0% growth marked in June and missed the consensus of a 4.0% gain, the data showed. Exports in the first seven months reached USD2.06 trillion, up 14.6%, while imports grew by 5.3% to USD1.68 trillion. The trade surplus in the first seven months was USD482.30 billion, with July contributing USD101.27 billion.

The United States still ranked as the biggest buyer, with imports from China up 15.0% y/y in theJan-Jul period, while the European Union placed second, with a 19.7% gain. Imports from the US increased 2.5% in the first seven months, and those from the EU fell 7.5%.

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