China's exports are expected to have dipped in July as a surge in global coronavirus infections depressed demand, while growth in imports likely cooled, a Reuters poll showed on Wednesday.
BEIJING - China’s exports are expected to have dipped in July as a surge in global coronavirus infections depressed demand, while growth in imports likely cooled, a Reuters poll showed on Wednesday.
Exports in July are expected to have contracted 0.2% from a year earlier, according to a median estimate of a Reuters poll of 28 economists, compared with an increase of 0.5% in June. China’s export performance, boosted by record shipments of medical supplies and robust demand for electronic products, has not been as severely affected by the global slowdown as some analysts had feared, but analysts believe weak orders are set to weigh on its manufacturers in the coming quarters.
Indeed, cargo throughput for foreign trade at major Chinese ports dropped 1.2% on year in the last 10 days of July, reversing from the positive gains recorded in the first 20 days, China Ports & Harbours Association said in a statement on Tuesday.
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