Last year, the foreign trade surplus of the world’s second-largest economy reached a historic level – nearly 1.2 trillion US dollars. This boom helped China’s manufacturing sector overcome a prolonged domestic consumption downturn.
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This year, export growth was further boosted by increased demand for China’s data processing equipment and related components, as companies rush to expand AI capacities.
As reported by the General Administration of Customs (GAC), export volumes last month grew by 23.9% compared to the same period last year. Analysts surveyed by Bloomberg had forecasted a 23% growth.
Data shows that in the first seven months of this year, exports of computers and related parts abroad jumped 45.2% compared to the same period last year.
“Export and import values remain high, driven by rapidly growing global demand for electronics and eco-friendly technology products,” noted Capital Economics analyst Julian Evans-Pritchard.
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Data released on Friday shows that China’s trade surplus appears to be keeping pace with last year’s level, reaching 687 billion US dollars by the end of July.
This huge gap is increasingly causing concern abroad – especially in Europe, where leaders worry that the influx of Chinese exports will push out local manufacturers.
Beijing insists that it has never deliberately sought a trade surplus with foreign countries.
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