World trade
China’s exports exceed expectations
China’s exports rise more than expected in July. While exports to the USA are falling significantly, business with Europe and Southeast Asia is growing.
Despite persistent global trade conflicts, China’s exports gave up more than expected in July. According to the Chinese customs authority, exports rose by 7.2 percent compared to the same month of the previous year. Analysts had expected lower growth in advance. The imports also attracted 4.1 percent more than expected.
However, the picture turned out differently depending on the trading partner: exports to the USA fell by 21.7 percent year -olds after a severe decline had already been recorded in June. However, Chinese companies were able to compensate for this break-in through increasing exports into other regions: deliveries to the European Union increased by 9.3 percent, those in the ten Southeast Asean countries even by 16.6 percent. Exports to Germany attracted 13.1.
No agreement between Washington and Beijing yet
The USA and China are currently in discussions about their long -lasting trade dispute. It is open whether there is an extension of a current customs break that actually ends on August 12th. Since April, the United States has gradually increased the import duties on Chinese goods up to 145 percent. China reacted to strategically important raw materials with counter -tariffs of up to 125 percent and imposed export controls. In May, both sides agreed on a 90-day suspension of the new tariffs.
dpa
Source: Stern
