Chinese exports grew at a faster pace than forecast in July even as the US kicked off a trade war by imposing tariffs on $34bn worth of imports from China at the beginning of the month.
The dollar value of exports rose 12.2 per cent in July compared to a year earlier, accelerating from revised growth of 11.2 per cent (previously 11.3 per cent) in the previous month, according to figures from China’s General Administration of Customs. A Reuters poll had forecast growth of just 10 per cent.
Imports jumped 27.3 per cent last month, blowing past a median forecast of 16.2 per cent. Those figures resulted in a trade surplus of $28.1bn, easing from a $41.6bn surplus in June.
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