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China’s July trade surplus widens, topping expectations
Exports rose 23.9% year over year while imports jumped 27.5% in July, supporting a larger surplus even as it was still below the prior month.
China’s July trade balance came in at a $112.5 billion surplus in US dollar terms, higher than the $107.0 billion forecast but below the previous reading of $125.62 billion, FXStreet said.
The report showed exports up 23.9% year over year in July, after a 27% increase in June, while imports rose 27.5% year over year versus 36% previously.
In Chinese yuan terms, the trade surplus widened by 767 billion yuan, exceeding the 740 billion yuan estimate but falling short of the prior 859.05 billion yuan release.
FXStreet noted there was no immediate reaction in AUD, a proxy for Chinese economic conditions, with AUD/USD trading about 0.1% lower near 0.7024 at the time of the update.