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Financial News: China's Exports Rise Unexpectedly In July

China's Exports Rise Unexpectedly In July

08/07/2020 - 00:28:00 (RTTNews)

(RTTNews) - China's exports grew unexpectedly in July, while imports declined from the previous year, data from the customs administration revealed Friday.

Exports grew 7.2 percent on a yearly basis in July, confounding expectations for a drop of 0.2 percent.

At the same time, imports dropped 1.4 percent on year in contrast to a 1 percent rise economists' had forecast.

As a result, the trade surplus totaled $62.33 billion in July. Economists had forecast the surplus to fall to $42 billion from June's $46.42 billion surplus.

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