BEIJING (AP) — China’s exports continued to rise in July, pushing its trade surplus to another record, according to official figures.
Chinese exports rose 18% to $333 billion from the same month last year, and were up 17.9% from June, according to China customs figures.
Imports increased by only 2.3% in July compared to the same month of the previous year. That’s less than the economists’ quoted estimate of 4%, and suggests domestic demand has slackened amid collective pandemic lockdowns.
The total Chinese trade surplus reached an all-time high of 101.3 billion dollars, surpassing the last mark reached in June.
The Chinese economy has recovered compared to a few months ago, when the collective COVID-19 lockdowns disrupted manufacturing and logistics.
While disruptions in supply chains and manufacturing problems have eased, the recovery could be impacted by new outbreaks of COVID-19, weak domestic demand and external uncertainties such as inflation in developed countries such as the United States and Great Britain. .