China’s exports tumbled in July, offering fresh evidence that a drying up of Western demand is hurting Beijing’s attempts to rekindle growth
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Slide in outbound shipments reflects fraying trade ties with the Western world, even as exports to Russia boomThe U.S. produces more corn than any other crop and American farms sold $5.3 billion of it to China last year. But China has spent years courting other producers and it is exploring ways to become self-sufficient long-term. Illustration: Annie Zhao
HONG KONG—China’s exports to the rest of the world tumbled in July, adding to the challenges for the world’s second-largest economy and offering fresh evidence that a drying up of Western demand is hurting Beijing’s attempts to rekindle growth.Continue reading your article with
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Chinese exports, imports shrink more than expected in JulyChinese exports and imports in July were lower than anticipated, indicating a slowdown in the country's economy. This decline in trade activity could be attributed to the ongoing trade tensions between China and the United States.
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China's July Trade Balance: Surplus expands as exports and imports fall more than expectedChina's trade surplus widened less than expected in June as exports slumped. Trade Balance came in at +80.6B versus +70.60B expected. In Chinese Yuan terms, the trade balance for July was CNY575.5 billion, with exports plunging 9.2% and imports falling 6.9%.
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China's July exports, imports fall much faster than expectedChina's exports fell 14.5% in July year-on-year, while imports contracted 12.4%, customs data showed on Tuesday, in the biggest decline in outbound shipments from the world's second-largest economy since February 2020. A Reuters poll of economists had forecast a 12.5% fall in exports and a 5.0% drop in imports. China's economy grew at a sluggish pace in the second quarter as demand weakened at home and abroad, prompting top leaders to promise further policy support at a meeting of the Politburo last month.
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China's July exports fall 14.5% y/y, imports down 12.4%China's exports fell 14.5% in July year-on-year, while imports contracted 12.4%, marking the worst performance for outbound shipments since February 2020.
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China's exports likely contracted further in July, imports downturn seen slowing - Reuters pollChina's exports likely contracted further in July, as manufacturers in the world's second-largest economy struggled for buyers in markets grappling with high inflation and rising interest rates, a Reuters poll showed on Monday.
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