China's Trade Surplus Widens in July

China's trade surplus narrowed to $25.1 billion last month from $31.7 billion in June. That marked the second straight month that both exports and imports slowed.

China's exports grew at a marginal one percent in July from a year earlier to $176.9 billion, the General Administration of Customs said in a statement, down from the 11.3 percent gain seen in June.

Imports rose 4.7 percent year-on-year to $151.8 billion last month, compared with the June increase of 6.3 percent indicating slowing domestic demand.

China, the world's biggest exporter, has been hit by weakness in overseas economies including debt-ravaged Europe, a key trading partner. A sluggish property market and softening consumer spending have also become a drag on the economy.

Exports to Europe fell by 3.6 percent to $192.4 billion in the first seven months of the year from the same period in 2011, according to the data, extending the 0.8 percent decline in the first half of the year.

Shipments to the United States, meanwhile, rose 11.4 percent on year in the seven months through July to $195.4 billion in the period, though that was a slower pace than the 13.6 percent increase in the first six months.

China, Reuters
8/10/2012 11:14:01 AM