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China's exports grew sharply in July NHK

China's exports picked up steam in July, offering an evident sign of recovery from a temporary slump amid repercussions of anti-coronavirus measures.

Data released by customs authorities on Sunday show that the value of exports jumped 18 percent year on year to 332.9 billion dollars.

Outbound shipments briefly tumbled due partly to coronavirus lockdowns in Shanghai earlier this year.

But exports to major destinations, such as Europe, Southeast Asia and Japan, grew sharply last month as factories boosted production and supply chain snarls eased.

The value of July imports rose by 2.3 percent to 231.7 billion dollars. The small gain is believed to reflect sluggish domestic demand amid China's economic slowdown.

The latest statistics also point to China's expanding trade with Russia.

The value of imports from Russia in July climbed about 49 percent year on year, indicating that China continued to increase purchases of Russian crude oil and natural gas.

The value of exports to Russia also rose by some 22 percent.
Summary
China's exports surged in July, increasing by 18% YoY to $332.9 billion, following a temporary slump due to anti-coronavirus measures. Exports to major destinations like Europe, Southeast Asia, and Japan grew significantly as factories ramped up production and supply chain disruptions eased.
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ID: 62f052da-6a80-4f35-8e2d-0185c0a80b98

Category ID: nhk

URL: https://www3.nhk.or.jp/nhkworld/en/news/20220808_03/

Date: Aug. 8, 2022

Created: 2022/08/08 09:03

Updated: 2025/12/09 14:28

Last Read: 2022/08/08 09:03