China July exports, imports growth slower

Dhaka,  Thu,  17 August 2017
Published : 08 Aug 2017, 15:35:38
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China July exports, imports weaker than expected

China July exports, imports growth slower
China's exports and imports grew much less than expected in July, raising concerns over global demand.

The global demand is starting to cool even as major Western central banks consider scaling back years of massive stimulus support.

China and Europe have been driving an increasing share of global growth this year as political conflict stymies stimulus policies being pushed by US President Donald Trump.

But while China's overall trade continued to grow at a healthy clip in July, at 8.8 per cent it was the slowest rate this year.

Some analysts chalked up the softer readings to seasonal or one-off factors, but others said weaker import growth could be the first tangible sign of a long-expected slowdown in the world's second-largest economy after a surprisingly strong first half.

"External demand is not really worrying in terms of the outlook," said Raymond Yeung, chief economist for Greater China at ANZ in Hong Kong.

China's export growth slowed to 7.2 per cent in July from a year earlier, the weakest pace since February and cooling from an 11.3 per cent rise in June, official data showed on Tuesday. Analysts had expected a 10.9 per cent gain.

China's imports rose 11.0 per cent, the slowest growth since December and down from a 17.2 per cent rise in the previous month. That also missed expectations of 16.6 per cent growth, reports Reuters.
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