China\u2019s exports continued to accelerate in July as a fall in shipments to the United States was offset by growth in a range of markets including Africa, Europe and Latin America, with chip exports surging by nearly 30 per cent year on year.<\/p>\n
The world\u2019s largest goods exporter saw outbound shipments rise by 7.2 per cent year on year to US$321.8 billion last month, according to customs data released on Thursday.<\/p>\n
The figure was higher than the 5.8 per cent growth rate recorded in June and beat the 5.8 per cent growth forecast in a market survey by the Chinese financial data provider Wind.<\/p>\n
China\u2019s imports, meanwhile, rose by 4.1 per cent year on year last month, in a possible sign that the country\u2019s sluggish domestic demand is starting to pick up. A poll by Wind had predicted a 0.27 per cent decline for July.<\/p>\n
That led China\u2019s trade surplus to narrow slightly to US$98.2 billion for the month.<\/p>\n