China’s Trade Surplus Narrows 30% In July

The General Administration of Customs of China announced that the country’s foreign trade value reached RMB2.19 trillion ($354.2 billion) in July, up 7.8% compared with last year.

July exports increased 5.1%, while imports grew 10.9%. Both numbers changed to positive growth from June’s declines, in a sign of strength for the economy.

The month recorded a trade surplus of RMB109.8 billion ($17.8 billion). The measure narrowed 29.6% compared with last year.

Bilateral trade with Europe showed an increase of 5%, while bilateral trade with the U.S. grew 10%.

Bilateral trade with Japan dropped by 6.1%.

Among China’s exports, traditional labor-intensive products such as toys, furniture, shoes and textiles, showed strong growth.

China imported more energy and power-related commodities in July, such as coal, crude oil, soybeans, and copper.