MNI BRIEF: China's Jul Exports Up 7.2%, Imports Up 4.1%

China's exports increased 7.2% y/y in July, while imports rose 4.1%, data released by China Customs showed on Thursday.

Exports in July reached USD321.8 billion, up 7.2% y/y, the fastest growth in three months, exceeding last 5.8% and the forecasted 5.5%. Imports rose 4.1% in July, the second positive change in five months and beating the market consensus of a 1.5% drop.

China’s trade surplus in July hit USD98.24 billion, smaller than the consensus of USD107.9 billion, taking Jan-Jul’s final surplus to USD683.5 billion. 

Exports to the U.S. fell 12.6% y/y from January to July, while imports declined 10.3%. Exports to the EU rose 7.0% over the same period, with imports down 5.2%.