China is due to release July trade data on Thursday, with economists expecting its exports to rise by 5 per cent year on year, delivering a bumper monthly trade surplus of $103.4bn.
The country’s ballooning surpluses are set to continue. Goldman Sachs expects the country to achieve an annual trade surplus equal to 4.9 per cent of GDP this year, up from 4.1 per cent in 2024.
The strength of exports comes despite the fact that China’s shipments to the US have sharply declined under the weight of President Donald Trump’s 30 per cent tariffs.
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