China's Exports Surpass Forecasts with 7.2% July Increase

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China's Exports Surpass Forecasts with 7.2% July Increase
Photo: Chinatopix Via AP/TT

China's export increased by 7.2 percent in July compared to the same month last year, despite heavy American tariffs on Chinese goods.

The increase was greater than the average forecast, which according to Bloomberg was 5.6 percent.

On the other hand, deliveries to the USA decreased by 22 percent compared to last year, after a decline of just over 16 percent in June.

Chinese companies have compensated for the decrease with increased sales in other markets. Exports to the EU increased by 9.3 percent, and almost 17 percent to the ten Southeast Asian countries within the Asean association.

Imports to China also increased, by 4.1 percent, according to the statistics from the country's customs authority.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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