Beijing, China (4E) – Exports from China increased in July on rising demand from the U.S., Europe and southeast Asia. However, imports surprisingly declined resulting in a record-high trade surplus.
Exports rose 14.5 percent in July from the previous year, a significant increase from the 7.2 percent gain in June, primarily due to strong demand in China’s major markets.
Meanwhile, imports to the world’s second-largest economy dropped 1.6 percent in July, leaving a $47.3bn trade surplus, the largest monthly figure to date.
The trade surplus – a politically sensitive number in China — climbed to $47.3bn in July from $31.6bn in the previous month, well above economists’ forecast of $27.7bn. The previous monthly trade surplus record was registered in November 2008 at $40.09bn.
Chinese exports to the EU jumped 17 percent in July from the year-ago month, while shipments to the U.S. increased 12.3 percent, the fastest acceleration since last November.