China July exports up 23.9% as surplus hits $112.5 B

China's exports maintained strong growth in July, driven by resilient global demand for high-technology goods and electric vehicles, while a widening trade surplus with major partners underscored the economy's continued reliance on foreign markets. Official customs data released on August 7, 2026, showed exports expanded by 23.9 percent in U.S. dollar terms compared to July of last year. Imports grew by 27.5 percent year-on-year.

The export performance, though slightly slower than June's 27 percent surge, surpassed analyst expectations. The trade surplus for July stood at $112.5 billion, a figure that exceeded market forecasts but narrowed from $125.62 billion in June. The data reveals an economy powered by advanced manufacturing while domestic consumption remains tepid. Exports of semiconductors nearly doubled in value from the previous year, and overall high-tech product exports expanded by 40.7 percent. In contrast, exports of traditional goods like ceramics slumped by 28.3 percent.

This uneven development highlights a shift in economic drivers, a transition Chinese policymakers recently emphasized by calling for a faster move from old growth engines to new ones. The strong...