China's international trade rose 12 percent in July 2024, recording remarkable surplus
(MENAFN) In July 2024, China's international trade in goods and services surged to approximately 4.24 trillion yuan, reflecting a robust 12 percent increase compared to the previous year, according to official data released on Friday. In dollar terms, the country's exports and imports totaled USD317.5 billion and USD276.4 billion, respectively, leading to a trade surplus of USD41.1 billion. This strong performance is underpinned by significant trade activity in both goods and services.
Specifically, the value of goods exports was about 2.04 trillion yuan, while imports of goods reached 1.6 trillion yuan, resulting in a substantial surplus of 431.6 billion yuan. Conversely, the service sector experienced a trade deficit, with exports valued at 228.8 billion yuan and imports at 367.1 billion yuan, resulting in a deficit of 138.2 billion yuan. These figures highlight China's continued strength in goods trade while reflecting ongoing challenges in the service sector.
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