China’s July Exports Rise 24%, Trade Surplus Narrows to USD 112.5 Billion

China’s exports grew at a slower pace in July compared with the previous month, although strong global demand for high-tech electronics, green technology and vehicles continued to support the country’s trade performance.

Data released by Chinese customs on Friday showed that the country’s trade surplus narrowed to USD 112.5 billion in July, down from USD 125.6 billion in June. Exports increased nearly 24 per cent year-on-year, easing from the 27 per cent growth recorded in June. Imports rose 27.5 per cent from a year earlier, compared with a 36 per cent increase in June.

Analysts attributed part of the moderation to typhoon-related disruptions at ports, which affected trade activity during the month. However, they said China’s overall export and import values remained elevated amid sustained global demand for electronics and green technology products.

“The boom in Chinese trade slowed a touch in July,” Julian Evans-Pritchard of Capital Economics said, adding that trade remained strong due to demand for electronics and green technology.

China’s trade data also point to a broader transformation in its export structure, with the country increasingly moving beyond low-cost manufacturing to supplying machinery, components and other products required for advanced industries.

Exports of high-tech products surged nearly 41 per cent in January-July compared with the same period last year. Vehicle exports jumped 55 per cent, while shipments of electronics and machinery increased 26 per cent.

Trade with major partners also showed divergent trends. China’s exports to the United States rose just 2.6 per cent in the first seven months of the year, while imports from the US increased 1.4 per cent.

Exports to the European Union climbed nearly 17 per cent, while shipments to Southeast Asia surged 25 per cent. The region has now emerged as China’s largest trading partner as Beijing continues to deepen trade ties beyond Western markets.