China’s exports, which were on a strong rebound following the spring’s severe epidemic containment restrictions, remained surprisingly resilient in July, once more beating expectations of weakening global demand for Chinese-made goods.
China’s exports to the rest of the world rose to $322.9 billion in July, up 18 percent from a year earlier, China’s General Administration of Customs said on Sunday. That beat the median forecast of a 15.6 percent increase from economists polled by The Wall Street Journal. The year-on-year growth rate in July was also higher than the 17.9% in June.
The strong export growth reflects a rapid easing of supply chain disruptions caused by the coronavirus outbreak, as workers in Chinese factories and ports struggle to clear backlogs of orders and get things back to normal. In July, China’s exports to its second and third largest trading partners, the European Union and the United States, increased by 23.1% and 11% year-on-year in dollar terms, respectively. Chinese exports to Russia also climbed in July, surging 22% from July 2021.
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