China’s export growth missed expectations last month but imports rose, reversing previous falls as trade remained the strongest driver in the world’s second-largest economy despite increasing accusations of oversupply from the US and EU.
Exports rose 7 per cent year on year in dollar terms in July, according to official data released by China’s customs authorities on Wednesday, lower than an 8.6 per cent rise in June. A Reuters poll of analysts had forecast growth of 9.7 per cent.
Imports rose 7.2 per cent, reversing a decline of 2.3 per cent year on year in June and far outpacing the 3.5 per cent growth predicted by the Reuters poll.
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