China’s exports exceed expectations, rising more than 7% in July

China’s exports in July exceeded market expectations, while imports rose to their highest level in a year, as the countdown to the end of the tariff truce with the United States continues.

Customs data released today showed that Chinese exports rose 7.2% in July (year-on-year, in US dollars), exceeding the estimates of economists polled by Reuters, who had expected growth of 5.4%.

Imports rose 4.1% last month compared to the same period the previous year, the largest increase since July 2024, according to LSEG data. These figures show a recovery in import levels after a slight increase of 1.1% in June. Economists had expected imports to decline by 1.0% in July. According to CNBC, on a cumulative annual basis, Chinese exports jumped 6.1% compared to the same period last year, while imports declined 2.7%, according to customs data. China’s trade surplus reached $683.5 billion by the end of July, a 32% increase compared to the same period in 2024.