China July trade surplus shrinks amid ongoing trade war
Aug 08, 2018 (China Knowledge) - China July trade surplus recorded RMB 176.96 billion, narrowing by 42.6%, according to the latest statistics from customs administration.
Last month, China's exports up 6% YoY to RMB 1.39 trillion, while the country's imports up 20.9% YoY to RMB 1.21 trillion.
In the first seven months of this year, China's foreign trade value totaled RMB 16.72 trillion, up 8.6% YoY. Exports up 5% to RMB 8.89 trillion in the period and imports up 12.9% to RMB 7.83 trillion. Trade surplus reached RMB 1.06 trillion, narrowed by 30.6%.
Among them, China’s exports to the EU were RMB 1.46 trillion, up 4% YoY; imports from the EU were RMB 999.11 billion, up 8.7% YoY; trade surplus with Europe was RMB 461.3 billion, shrinking by 4.9%.
The total trade value between China and the US hit RMB 2.29 trillion, up 5.2% YoY, accounting for 13.7% of China's total foreign trade. China’s exports to the US hit RMB 1.66 trillion, up 5.6%, imports from the US recorded RMB 625.01 billion, up 4.3%. Sino-US trade surplus climbed to RMB 1.04 trillion in Jan-Jul, up 6.4% YoY.
From Jan to Jul, the total trade between China and ASEAN recorded RMB 2.11 trillion, jumping 11.6% YoY, accounting for 12.6% of China's total foreign trade. China’s exports to ASEAN hit RMB 1.15 trillion, up 9.9% YoY, while imports from ASEAN recorded RMB 967.37 billion, up 13.6% YoY.
Total value of Sino-Japanese trade recorded RMB 1.2 trillion in the seven-month period, up 4.3% YoY, accounting for 7.2% of China's total foreign trade. Exports to Japan were RMB 531.89 billion, up 1.3% YoY; China imports from Japan were 665.33 billion, up 6.9%; China trade deficit with Japan was RMB 133.44 billion, expanding 37.1% YoY.
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