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Exports declined 4.4 percent year-on-year in July from a year ago, after easing 4.8 percent in June, figures from the General Administration of Customs showed Monday. Shipments were expected to fall 3.5 percent.
At the same time, imports decreased 12.5 percent compared to an 8.4 percent drop in June. Economists had forecast only 7 percent drop for July.
As a result, the trade surplus increased to $52.3 billion from $48.1 billion in June. The surplus was also above the expected level of $47.3 billion.
The country's export growth is likely to remain subdued for some time, Julian Evans-Pritchard at Capital Economics, said. While the worst is probably over for many emerging markets, global growth is likely to remain lackluster well into next year - RTT.
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