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China's July dollar-denominated exports rise 12.2 pct y/y, above f'cast

China posted a trade surplus of $28.05 billion for the month, customs data showed on Wednesday. Analysts had forecast the trade surplus would dip slightly to $39.33 billion in July from $41.47 billion in June.


Reuters 08 Aug 2018, 03:20 AM China

China's July exports rose 12.2 percent from a year earlier in dollar terms while imports grew 27.3 percent, beating forecasts, welcome news for policymakers looking to soften the blow from an intensifying trade row with the United States.

China posted a trade surplus of $28.05 billion for the month, customs data showed on Wednesday. Analysts had forecast the trade surplus would dip slightly to $39.33 billion in July from $41.47 billion in June.

The Reuters poll had also predicted July shipments from the world's largest exporter to have risen 10 percent year-on-year, slowing slightly from a 11.2 percent gain in June.

Import growth was forecast to have quickened to 16.2 percent last month, compared with 14.1 percent in June.

China's trade performance got off to a strong start this year, supported by sustained demand at home and abroad.

But the export outlook is being clouded by a heated trade dispute with the United States, with both countries slapping tit-for-tat duties on each other's goods last month.

Investors worry that the Trump administration's threat to impose more tariffs on Chinese goods could disrupt its shipments and global supply chains in a blow to investment and growth.

Recent data showed growth in the world's second-largest economy has already started to cool. The government has responded by releasing more liquidity into the banking system, encouraging lending and promising a more "active" fiscal policy.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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