Chinese exports celebrating despite the global crisis

Chinese exports surged unexpectedly in July despite the slump affecting Beijing’s main customers, but imports fell, bodes poorly for solid demand in the world’s second-largest economy.

After a plunge at the start of the year due to an epidemic, sales of the Asian giant increased by 7.2% last month over a year, according to figures released yesterday by Customs. This is the biggest increase since December 2019, when sales from China rose 7.6%, just before the outbreak of the coronavirus. The figure for July is significantly better than expected by analysts: experts polled by financial agency Bloomberg were betting on a 0.7% decline in exports in July. The latter only increased by 0.5% in June.

While Chinese trade remains penalized by the decline in activity among its main customers, Europe and North America in the lead, experts do not expect the recovery in exports to be sustainable, however. due to the appearance of epidemic foci, without forgetting that other countries are developing their national production of medical equipment.

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Chinese exports surged unexpectedly in July despite the slump affecting Beijing’s main customers, but imports fell, bodes poorly for solid demand in the world’s second-largest economy.

After a plunge at the beginning of the year due to the epidemic, the sales of the Asian giant increased by 7.2% the month …

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