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China’s exports, imports fall in July

by ChemOrbis Editorial Team -
  • 10/08/2015 (13:17)
According to media reports, China’s July exports posted the largest drop in the last four months while the country’s imports also declined significantly. Chinese exports fell 8.3% year over year, missing economists’ initial estimates, which called for a drop of 1% in July. Exports to the European Union declined 12.3% in July while those to USA fell by 1.3%.

Imports, meanwhile, posted a decrease of 8.1% in line with economists’ preliminary expectations of an 8% drop in imports. The country posted a trade surplus of $43.03 billion in July, below economists’ initial expectations of $53.25 billion.

Following the July results, some analysts predicted that exports will continue their downward trend for the rest of the year due to contracting factory activity and a strong yuan. China’s weak imports, meanwhile, were attributed to weaker commodity prices.
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