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China exports jump 23% in July as imports cool
Exports grew faster than expected in July, while imports cooled, pointing to continued reliance on overseas demand for manufactured goods.
China’s exports rose 23% year over year in July, beating market expectations, as global demand for high-tech components continued to absorb Chinese manufactured goods, CNBC Markets reports.
At the same time, China’s imports cooled, suggesting domestic demand did not keep pace with export growth in the month.
The data indicate China’s trade performance was supported primarily by external demand for electronics-related supply chains, rather than a broad-based lift from imports.
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