In July 2025, China’s exports rose 7.2% year-on-year, accelerating from June’s 5.8% and exceeding the 5.4% forecast.
Meanwhile, imports increased 4.1%, defying expectations for a decline.
What’s Driving the Surge?
Businesses rushed to ship goods before a tariff truce between China and the U.S. expires on August 12, taking advantage of temporarily eased duties.
Exports to the United States fell sharply by around 22%, but were more than offset by strong growth in shipments to Southeast Asia (up 16.6%), Africa, and Europe.Reuters
Trade Surplus and Broader Impacts
China’s trade surplus narrowed month-on-month to about $98.2 billion in July, down from $114.8 billion in June.
This performance offers a temporary boost amid weak domestic demand and challenges in the real estate and manufacturing sectors.
What Comes Next?
Analysts warn momentum may fade soon under renewed U.S. tariffs and unresolved trade tensions. The coming weeks are critical, with supply chains and global trade stability hanging in the balance.
Summary Table
| Metric | July 2025 Value |
|---|---|
| Export Growth (YoY) | +7.2% |
| Import Growth (YoY) | +4.1% |
| Trade Surplus | ~$98 billion |
| Key Trend | Surge in exports to Southeast Asia offset U.S. drop |
