China's exports slow slightly in July despite robust demand for high-tech products
China has reported its exports slowed slightly in July from the month before despite strong growth in demand for high-tech electronics and vehicles
BANGKOK -- China’s exports slowed slightly in July from the month before despite robust demand for high-tech electronics and vehicles.
Customs data released Friday showed China’s trade surplus narrowed to $112.5 billion from $125.6 billion in June.
Exports rose nearly 24% in July from a year earlier, while imports were up 27.5% year-on-year.
Trade data show China has fully transitioned from providing mostly low cost manufacturing to supplying vital machinery and components for advanced manufacturing.
Exports of high-tech items surged nearly 41% in January-July from the same period the year before, while shipments of vehicles jumped 55% and overall exports of electronics and machinery rose 26%.