August 8, 2017 | By: Huileng Tan.
China on Tuesday reported July exports were up 7.2 percent in dollar terms, while imports were up 11.0 percent in dollar terms. Both were lower than expected.
Analysts polled by Reuters expected a 10.9 percent rise in Chinese exports in July from a year ago in dollar terms. July imports were forecast to increase 16.6 percent in dollar terms.
In June, China reported a 17.2 percent increase in imports and an11.3 percent on-year rise in exports in dollar terms.
The declines can be partly explained, according to Capital Economics China economist Julian Evans-Pritchard, by negative price effects due to cooling producer price inflation.
Despite the slowdown in trade growth momentum, China’s exports and imports were still registering strong expansion on a year-on-year basis, said Rajiv Biswas, IHS Markit’s chief economist for Asia Pacific.
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