China's July exports slow sharply
Updated: 2012-08-10 14:14
BEIJING -- China's export growth slowed sharply in July to a six-month low following dwindling demand from Europe and Japan, official data showed Friday.
Exports rose 1 percent year-on-year to $176.9 billion in July, plummeting from the 11.3-percent growth seen in June and well below market expectations, the General Administration of Customs said Friday.
Imports increased 4.7 percent year-on-year to $151.8 billion, compared with a growth of 6.3 percent in June.
The trade surplus narrowed 16.8 percent year-on-year to $25.2 billion in July, taking the combined trade surplus to $94.1 billion for the first seven months of the year.
Foreign trade expanded 2.7 percent year-on-year to $328.7 billion in July, according to the GAC data.
Meanwhile, exports rose 7.8 percent year-on-year to $1.13 trillion in the first seven months.
China's trade with the EU, its largest trading partner, dipped 0.9 percent in the January-July period from a year earlier to $315.8 billion, the figures showed.
During the period, trade with Japan also slipped 0.2 percent year-on-year to $190.9 billion.
Meanwhile, trade with the United States, the country's second-biggest trading partner, went up 10.5 percent year-on-year to $271.4 billion in the first seven months, according to the GAC.