China’s trade activities continued to surge in July as the country’s international trade in goods and services surpassed 3.77 trillion yuan, equivalent to $526.5 billion, based on recent official data.
The value of goods exports totaled almost 1.83 trillion yuan, while imports amounted to over 1.44 trillion yuan. This resulted in a substantial trade surplus of 385.5 billion yuan, as reported by the State Administration of Foreign Exchange.
Services exports reached 183.8 billion yuan in the previous month, while services imports accounted for 315.3 billion yuan. Consequently, there was a trade deficit in services amounting to 131.5 billion yuan, as per information from a state-controlled news agency.
The robust growth in China’s international trade marked a significant achievement in July this year, with the combined trade value of goods and services surpassing 3.77 trillion yuan, or approximately $526.5 billion. The positive trade balance was primarily driven by strong goods exports, which amounted to nearly 1.83 trillion yuan. Imports played a pivotal role as well, totaling more than 1.44 trillion yuan.
China’s trade performance remains a crucial factor in its economic landscape, contributing to its position as a global economic powerhouse. These latest trade figures underscore the nation’s continued engagement in international trade and its influence on the global economy.