China’s exports grew unexpectedly in July, while imports declined from the previous year, data from the customs administration revealed Friday.
Exports grew 7.2 percent on a yearly basis in July, confounding expectations for a drop of 0.2 percent.
At the same time, imports dropped 1.4 percent on year in contrast to a 1 percent rise economists’ had forecast.
As a result, the trade surplus totaled $62.33 billion in July. Economists had forecast the surplus to fall to $42 billion from June’s $46.42 billion surplus.
The material has been provided by InstaForex Company – www.instaforex.com
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