China's July exports top expectations, rising over 7%; imports record biggest jump in a year

cross-posted from: lemmy.zip/post/45727028

Exports climbed 7.2% in July in U.S. dollar terms from a year earlier, exceeding Reuters-polled economists’ estimates of a 5.4% rise.

On a year-to-date basis, China’s overall exports jumped 6.1% from a year earlier, while imports fell 2.7%.

July’s export declines were largely offset by shipments diverted to alternative markets such as Southeast Asia, which increased 16.6%, while imports fell 5.8% from a year earlier. China’s exports to the European Union also rose 9.2% while imports fell 1.6%.