German imports and exports fall in June

German imports and exports fall in June

Though both rates were lower than analysts expected, exports have now risen for five months in a row on sustained overseas demand.

Chinese exports have risen by 21.8 percent year-on-year over January-July, whereas import figures indicate a growth of 29.5 percent.

"External demand is not really worrying in terms of the outlook", said Raymond Yeung, chief economist for Greater China at ANZ in Hong Kong.

China's exports and imports grew more slowly than expected in July, raising concerns over whether global demand is starting to cool even as major Western central banks consider scaling back their massive stimulus programmes.

These include a ban on coal shipments at small ports from July 1, more random checks on coal cargoes and a more thorough inspection process before clearing shipments.

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BEIJING-China's foreign-exchange reserves rose for a sixth straight month in July, underscoring Beijing's success in keeping money from moving offshore with some help from a weaker USA dollar. In Asia, the Nikkei closed with a loss of -0.30%, the ASX also retreated, while Hang Seng and CSI 300 managed slight gains. That also missed expectations of 16.6 percent growth.

The wash-up from the movements in exports and imports was that the national trade surplus swelled to $46.74 billion, above the $42.77 billion level of June and forecasts for a smaller increase to $46.08 billion. The median forecast had been for 0.6% growth, while strength was somewhat masked in the headline figure by the fact that July sales in the previous year were strong.

"China's trade surplus actually is heading downward if you look at a year-on-year comparison", said Gai Xinzhe, an analyst at Bank of China's Institute of International Finance in Beijing.

Foreign trade in the first seven months totaled 15.46 trillion yuan, up 18.5 percent year on year.

In the reporting period, the volume of exports from China to Russian Federation increased by 21.8% and amounted to $23.39 bln.

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