Chinese exports hold firm despite trade wars

Imports and Exports | | MIC Customs Solutions |

More positive than expected trade data has come from China, despite ongoing disputes with the US.

Exports from China increased last month, despite the trade war with the US continuing to rumble on, official data has shown.

Figures newly published state that exports from the Asian nation went up by 12.2 per cent year-on-year, far higher than forecasts for an increase of ten per cent, Reuters reported.

Imports also increased by 27.3 per cent, again higher than analysts' forecasts of 16.2 per cent and stealing a march on June's gains of 14.1 per cent.

This was attributed to still-solid domestic demand and energy prices, despite the backdrop of tariffs being implemented by both the US and China on each other's products.

Meanwhile, the trade surplus decreased slightly to $28 billion, providing the first complete picture of trade since duties on $34 billion of Chinese imports to America came into effect on July 6th 2018.

However, experts have suggested there may be a delay before the real impact of the trade war between the two superpowers starts to be felt.

The Chinese yuan is already showing signs of weakness, having decreased in value for around a month. The central bank has now made it more expensive to bet against the currency in an attempt to ease the pressure it is feeling.