China Trade Balance July 2018

China

China: Export growth picks up in July

August 8, 2018

Export growth accelerated in July, expanding 12.2% over the previous year after logging a 11.3% increase in June. The figure was above market expectations of a 10.0% increase.

Meanwhile, import growth surged from 14.1% year-on-year in June to 27.3% in July, surpassing analysts’ expectations of more moderate 16.5% growth.

The trade surplus consequently fell to USD 28.1 billion in July, from USD 44.9 billion the same month a year prior (June 2018: USD 41.5 billion surplus). The 12-month moving sum of the trade surplus also fell from June’s USD 384 billion to USD 363 billion in July, the lowest figure in almost four years.

FocusEconomics panelists expect exports to expand 8.7% in 2018 and imports to rise 12.9%, bringing the trade surplus to USD 379 billion. In 2019, exports are expected to increase 6.3% and imports to increase 8.1%, with a trade surplus of USD 366.0 billion.


Author:, Economist

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China Trade Balance Chart


China Trade12m July 2018

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-month sum of exports and imports in %.
Source: General Administration of Customs of the People’s Republic of China and FocusEconomics calculations.


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