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China trade slumps imports down 12.5pc exports slide 4.4pc in July

Time：2016-08-18 Browse：158 Author：RISINGSUN

CHINA posted worse-than-expected exports and imports figures for July, with imports falling 12.5 per cent to $132.4 billion and exports were off 4.4 per cent to US $184.7 billion year on year.

China`s customs authorities reported that goods bought from partners abroad totalled US$132.4 billion as weaker global commodity prices and slumping domestic demand weighed on purchases.

"Signs of stronger manufacturing activity among many of China`s key trading partners have so far failed to lift export growth," said Capital Economics analyst Julian Evans-Pritchard.

In the first seven months of the year, China`s total trade volume with the European Union rose by 1.8 per cent, but it fell 4.8 per cent with the US, reports Germany`s Deutsche Welle citing Reuters and Agence France-Presse.

Chinese officials have denied the government in Beijing is deliberately allowing the yuan to slide so as to boost exports, arguing that economic fundamentals are responsible for the current situation.