China: Exports in July tally largest drop in four months
August 9, 2015
In July, exports fell 8.3% over the same month last year, which contrasted the 2.8% increase tallied in June. July’s contraction exceeded the 0.3% decrease that market analysts had expected and represented a four-month low. Imports fell 8.1% annually in July, which was below the 6.1% decline tallied in June. July’s plunge was worse than the 6.6% drop that market analysts had expected.
As a result of the sharp drop in exports, the trade surplus narrowed to USD 43.0 billion in July (June: USD 46.5 billion) from USD 47.3 billion in the same month last year. The 12-month moving sum of the trade surplus fell from USD 541 billion in June to USD 537 billion in July.