China trade surplus drops in July

World's largest exporter records decrease in July data as imports jump further than the increase in exports.

    China trade surplus drops in July
    China's exports have been battered by weak demand in the US and Europe [EPA]

    China's July trade surplus fell 29.6 percent year-on-year to $17.8bn, as imports recorded a larger increase than exports during the month, data from state’s General Customs Administration show.

    Exports rose 5.1 percent to $186bn in July from a year ago, while imports jumped 10.9 percent to $168.2bn, according to the data released on Thursday.

    The numbers marked a rebound in trade in both directions after exports and imports declined in June, with the gain in imports being the first since April.

    Exports slipped 3.1 percent to $174.3bn in June, while imports were down 0.7 percent at $147.1bn, resulting in a 14 percent drop in the trade surplus at $27.1bn, all compared to a year ago.

    The July results offered hope that the world's second-largest economy may be stabilising after a slowdown that has prompted the government to shore up activity.

    A survey of 14 economists by Dow Jones Newswires had forecast exports to gain a median 2.8 percent and imports to rise 1.3 percent.

    The median prediction for the trade surplus was $27.2bn.

    SOURCE: Al Jazeera


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