Chinese exports rose due to demand for AI
10 August 02:46
China’s exports in July exceeded expectations and remained one of the key drivers of the country’s economic growth: demand for high-tech products was fueled by a global boom in investment in artificial intelligence infrastructure, while exporters rushed to ship goods before higher U.S. tariffs took effect, according to "Komersant Ukrainian", citing Reuters.
China’s exports rose 23.9% year-over-year in dollar terms in July, customs data showed.
Economists surveyed by Reuters had expected a growth rate of 22.2%. A month earlier, growth stood at 27.0%.
Imports increased by 27.5% following a 36.0% jump in June. Analysts had expected a 27.9% increase in imports into China. China’s trade surplus in July stood at $112.50 billion, compared with $125.62 billion the previous month and a forecast of $107.0 billion.
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