China’s exports slowed slightly in July from the month before but still were higher than forecast thanks to strong demand for high-tech electronics and vehicles.
Customs data released Friday showed China’s trade surplus narrowed to $112.5 billion from $125.6 billion in June.
Exports rose nearly 24% in July from a year earlier, compared with a 27% increase in June. Imports climbed 27.5% year-on-year, but that was lower than June’s jump of 36%.
Disruptions to port operations due to typhoons helped to slow trade, though the actual figures were slightly better than analysts had forecast.
“The boom in Chinese trade slowed a touch in July but the big picture is that export and import values remain elevated, helped by soaring global demand for electronics and green tech products,” Julian Evans-Pritchard of Capital Economics said in a report.
