China's export growth in July exceeded market expectations.
The General Administration of Customs announced on August 7 that July exports reached $397.8 billion, marking a 23.9% increase compared to the same month last year. While this is slightly below June's export growth rate of 27%, it surpasses the market forecast of 22.2% compiled by Reuters.
China's imports in July also rose, totaling $285.3 billion, a 27.5% increase year-on-year. This figure is lower than June's import growth rate of 36% and falls short of the market expectation of 27.9%.
In July, China recorded a trade surplus of $112.5 billion.
Exports to the United States in July amounted to $41.9 billion, a 17.0% increase from the previous year, while imports from the U.S. rose by 15.3% to $13.9 billion.
Exports to South Korea reached $18.1 billion, a significant 46.6% increase year-on-year, with imports soaring by 97.7% to $31.0 billion.
The growth in China's exports in July was driven by rising global demand for hardware used in AI data centers and advanced technology products. Additionally, Chinese manufacturers accelerated exports to the U.S. ahead of potential new tariffs, contributing to the increase in export growth.
The General Administration of Customs stated, "A well-established supply chain and strong innovation capabilities provide a foundation for the growth of Chinese trading companies."
* This article has been translated by AI.
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