China Trade July 2017


China: Trade data weakens in July

August 7, 2017

Exports rose 7.2% annually in July, coming in below both June’s 11.3% increase and the 10.9% expansion that market analysts had expected.

Meanwhile, imports rose 11.3% annually in July, which came in below June’s 17.2% expansion and the 16.6% increase that markets had expected.

The trade surplus narrowed from USD 48.6 billion in July 2017 to USD 46.7 billion in July 2017. The 12-month moving sum of the trade surplus decreased from June’s USD 460 billion to USD 456 billion in July, which marked the lowest value since January 2015.

FocusEconomics Consensus Forecast panelists project that growth in merchandise exports will reach 5.3% in 2017, while imports will increase 9.0%, driving the trade balance to a surplus of USD 478 billion. For 2018, the panel expects exports to expand 3.7% and imports to increase 4.1%, while the trade surplus will be USD 489 billion.

Author: Ricard Torné, Lead Economist

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China Trade Chart

China Trade12m July 2017

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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