China: Contraction in exports eases in July
August 8, 2016
Exports fell 4.4% annually in July, which marked a more moderate contraction than both the 4.8% drop recorded in June and the 4.7% contraction the markets had expected.
Meanwhile, imports plunged 12.5% annually in July, which marked a faster decrease than both the 8.4% contraction tallied in June and the 11.2% decline that market analysts had expected.
Due to the slower contraction in exports, the trade surplus improved from USD 41.9 billion in July 2015 to USD 52.3 billion in July this year. The 12-month moving sum of the trade surplus increased from June’s USD 602 billion to USD 612 billion in July, which marked an all-time high.