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China's exports up 11.2%, imports up 14.7% in July

2017-08-10 08:07:10 CGTN

China's exports in yuan-denominated terms rose 11.2 percent year on year in July, and imports increased 14.7 percent compared to the same period last year, customs data showed.

According to the General Administration of Customs, China's monthly trade surplus stood at 321.2 billion yuan (47.8 billion US dollars) in July, up 1.4 percent year on year. And the total foreign trade reached 2.32 trillion yuan last month, up 12.7 percent from a year earlier.

In the first seven months, China's exports increased 14.4 percent year on year, although imports rose 24 percent, which resulted in a 14.5-percent decline in trade surplus.

Foreign trade, however, totaled 15.46 trillion yuan, which is up to 18.5 percent year on year in the first seven months.

During the first half of this year, trade with the EU, which is China's biggest trade partner, climbed 17.1 percent from a year earlier to 2.33 trillion yuan.

Meanwhile, trade with the United States, ASEAN and Japan went up by 20.6 percent, 20.9 percent and 16.9 percent.

Exports of machinery, electronics and labor-intensive products continued to expand in the first seven months, while the volume of steel exports dropped 28.7 percent year on year to 47.95 million tons.

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