China's exports grew 23% in U.S. dollar terms in July compared to the previous year, according to official customs data. This growth exceeded the 22.2% forecast for the month provided by analysts polled by Reuters. (Note: S3 reports a 23.9% year-on-year increase in its headline, conflicting with this figure.)
The July export growth rate represented a slowdown from the 27% surge recorded in June. That June surge was China's fastest pace of export growth since October 2021.
Global demand for high-tech components helped absorb China's manufactured goods. Consequently, China's trade balance grew more than expected in July due to the boost in exports.
Import growth slows
China's imports rose 27.5% in July. This figure was slightly below the 27.9% estimate from a Reuters poll.
The growth in imports slowed from a 36% jump in June. The June increase in imports was China's quickest in five years.
23% year-on-year
Growth in China's exports in July in U.S. dollar terms.
Updates
China's high-tech exports rose 41% in the first seven months of 2026 compared to the same period last year, with integrated circuit exports hitting a monthly record of $38.7 billion in July—double the prior period—and accounting for about 10% of total exports; the goods trade surplus climbed to $687.4 billion year-to-date, up from $680.6 billion a year earlier, while exports to the U.S. increased 17% year-on-year in July, with analysts attributing the export surge partly to rising prices and a structural shift from petroleum to chips.
China's high-tech exports rose 41% in the first seven months of 2026 compared to the same period last year, with integrated circuit exports hitting a monthly record of $38.7 billion in July—double the prior period—and accounting for about 10% of total exports; the goods trade surplus climbed to $687.4 billion year-to-date, up from $680.6 billion in 2025, while exports to the US increased 17% year-on-year in July, with analysts attributing the surge partly to price gains and a structural shift from petroleum to chips.
China's high-tech exports rose 41% in the first seven months of 2026, with integrated circuit exports hitting a monthly record of $38.7 billion in July—double the prior period—and accounting for about 10% of total exports, while the goods trade surplus climbed to $687.4 billion year-to-date, up from $680.6 billion a year earlier; exports to the U.S. increased 17% year-on-year in July, though a widely anticipated stimulus package was not implemented despite new drone export restrictions targeting Washington.
