LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

China's July exports, imports weaker than expected, cloud global outlook

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Tue, Aug 08, 2017
09:24 am
Reuters

China`s exports and imports grew more slowly than expected in July, raising concerns over whether global demand is starting to cool even as major Western central banks consider scaling back their massive stimulus programmes.

China and Europe have been driving an increasing share of global growth this year as political conflict stymies stimulus policies being pushed by U.S. President Donald Trump.

But China`s export growth slowed to 7.2 percent in July from a year earlier, the weakest pace since February and cooling from an 11.3 percent rise in June, official data showed on Tuesday. Analysts had expected a 10.9 percent gain.

Imports rose 11.0 percent, the slowest growth since December and down from a 17.2 percent rise in the previous month. That also missed expectations of 16.6 percent growth.

That left the country with a trade surplus of $46.74 billion for the month, the highest since January, compared with forecasts for $46.08 billion and above June`s $42.77 billion. The July trade figures are preliminary, with revised data due on July 23.

Asian stock markets went flat after the disappointing China data, which came a day after ratings agency Fitch upgraded its outlook for the world economy for this year and next, citing recoveries in China and other emerging markets.

"Despite an uptick at the end of the second quarter, (China`s) trade growth now appears to be on a downward trend. In particular, the sharp decline in import growth since the start of the year suggests that domestic demand is softening," Capital Economics said in a note.

Improving global demand has boosted exports for China and other trade-reliant Asian economies in recent months after several lean years of declining shipments, but investors have been more focused on its strong appetite for imports, particularly for industrial commodities such as iron ore and coal, which have sparked a global price rally.TRADE FRICTIONS

China`s trade surplus with the United States, its largest export market, rose 5.9 percent in the first seven months of this year to $142.75 billion compared to the year-ago period, even as China`s overall trade surplus has declined this year.

China`s surplus with the U.S. was $25.2 billion in July, nearly unchanged from June`s $25.4 billion, which was the highest since October 2015.

Trump is close to a decision on how to respond to what he considers China`s unfair trade practices, as Washington prepares to launch an inquiry into Beijing`s intellectual property and trade practices.

But America`s appetite for Chinese goods appears to have only increased over the years.

The surplus with the U.S. accounted for over 60 percent of China`s total surplus in the first half, compared to just 44 percent in the year-ago period, according to China customs data.

China has said that trade between China and the United States benefits both sides and that Beijing is willing to work with Washington to improve their trade relationship.

The United State and China failed last month to agree on major new steps to reduce the U.S. trade deficit with China, casting doubt over Trump`s economic and security relations with Beijing.

Tensions between Washington and Beijing have escalated in recent months as Trump has pressed China to cut steel production to ease global oversupply and rein in North Korea`s missile programme.

Trump tweeted in late July after the latest North Korea missile test that he was "very disappointed" in China, saying that Beijing profits from U.S. trade but had done "nothing" for the United States with regards to North Korea, something he would not allow to continue.

A China`s vice commerce minister said last week that China`s foreign trade faces a mostly positive environment in the second half of the year, but instability and uncertainties still exist.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:

LATEST NEWS

Realme 8 5G India launch date set for April 22: Check expected price, specifications and more

Glenmark Pharma share price: Expert says HUGE value unlocking; reveals two BUY targets

Gold Price: MCX Gold price has support around Rs 46660, Rs 46956 and resistance at Rs 47411 and Rs 47570

Cipla shares hit new high; Sharekhan pegs target at Rs 1100 as Pharma giant doubles Remdesivir production

New Covid 19 office guidelines for central government employees: Check fresh notice by MHA

MP: Voting begins for Damoh assembly bypoll

Petrol, diesel price unchanged for 2nd consecutive day

COVID-19: Pune sees 10,963 cases, 109 deaths, 5,049 recoveries

Vivek, Tamil actor and comedian, passes away at 59 in Chennai hospital

iPhone game for kids secretly turns into casino

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved