China’s exports increased much more than expected in July. The resumption of global economic activity gave a boost to exports. On the contrary, imports shrank unexpectedly, according to experts, a signal that China’s domestic recovery is persistently vulnerable. The lower prices of raw materials also hindered imports.
In fact, in recent months, exports to the rest of the world have been under considerable pressure, as many countries have introduced quarantine measures and lockdowns against the spread of the coronavirus. However, these measures have recently been relaxed.
Exports of the second largest economy in the world, expressed in dollars, rose by 7.2 percent. Economists expected a fall of 0.6 percent. Imports fell by 1.4%, where growth was expected to be 0.9%. The trade surplus increased to over 62.3 billion dollars.
About the author: Matthew Johnson
Matthew Johnson, a small tech business owner retired and found his passion in journalism.