China's exports rose 23.9 percent year-on-year in July to $397.85 billion, beating expectations, driven by a near-doubling of semiconductor shipment values and robust demand for high-tech goods.
Imports climbed 27.5 percent to $285.35 billion, marking a 14th consecutive month of growth, though the figure slightly missed forecasts. The trade surplus narrowed to $112.5 billion from June's $125.62 billion but still exceeded market estimates. Shipments to the United States gained roughly 17 percent while exports to the European Union rose 16 percent, even after Washington imposed new 12.5 percent tariffs on Chinese goods in late July.
The trade data follows second-quarter GDP growth of 4.3 percent, with consumer inflation cooling to 1 percent in June and producer prices posting their steepest gain since July 2022.