Key facts
- China's exports grew 23.9% year-on-year in July.
- Imports increased by 27.5% in July.
- Demand for AI infrastructure significantly boosted export figures.
- The trade data was released before the anticipated implementation of higher U.S. tariffs.
China's export growth accelerated in July, with outbound shipments rising 23.9% year-on-year to $397.9 billion. This performance, a slight moderation from June's 27% gain, was significantly boosted by strong global demand for AI-related goods and robust commodity imports, which increased by 27.5%. The trade figures were released ahead of anticipated higher U.S. tariffs, suggesting potential future impacts on China's trade dynamics. Despite the headline growth, underlying volume growth for traditional consumer products remained weak.