Market Updates
China's July Exports Rise 18%, Record Trade Surplus
Brian Turner
08 Aug, 2022
New York City
China's exports in July rose 18%, measured in the U.S. dollars, to $333 billion following a 17.9% increase in June, according to the data released by China Customs on Sunday.
China's yuan has depreciated about 6% against the U.S. dollar sofar in the year.
Trade surplus in the month surged to $101.3 billion, a surge of 75% from a year ago when exports reached $56.6 billion.
July trade surplus for the first time crossed $100 billion and surpassed the previous record set in June.
However, imports gained only 2.3% indicating weak rebound in the local demand for commodities and minerals.
China's export sector employs about 180 million people and account for about 0.9 percentage points of GDP growth in the first-half of 2022.
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