China: Exports and imports rebound in July
August 8, 2013
In July, exports rose 5.1% over the same month last year, which contrasts the 3.1% fall seen in June. The increase overshot market analysts' expectations of a 2.0% rise. Imports expanded 10.9% in July, contrasting the 0.7% contraction seen in June. The increase exceeded market expectations of a 1.0% rise.
The trade balance recorded a surplus of USD 17.8 billion, which was far less than the USD 25.3 billion surplus in the same month last year. The July balance undershot market expectations of a USD 26.9 billion surplus. Accordingly, the 12-month moving sum of the trade surplus fell from USD 272 billion in June to USD 264 billion in July.
FocusEconomics panellists project that merchandise exports will grow 8.0% in 2013, to USD 2.2 trillion, while the trade surplus will widen to USD 268 billion, up from USD 231 billion in 2012. For 2014, the panel expects exports to increase 9.6% and the trade surplus to increase to USD 287 billion.