In July, China's trade surplus nearly tripled to a record high of $47,3 billion from $17,8 billion in the same one-year period and from $31,6 billion the previous month on a sharp rise in exports. According to data released by the Customs Office, exports rose in July by 14,5% annually to 212,9 billion dollars (+7,2% in June), against expectations for +8%.
The previous record for the trade surplus dates back to November 2008 with 40,09 billion dollars. Exports, favored by a weak yuan, went above all to the USA, Europe and South-East Asia and Hong Kong. On the contrary, imports fell by 1,6% annually to 165,6 billion after +5,5% in June and against forecasts for +3%.
