China's exports continued to perform better than expected in July. Exports calculated in US dollars increased by 18 percent compared to the same period last year, as reported by the Chinese customs on Sunday in Beijing. Imports increased by 2.3 percent. Western experts had actually predicted a slowdown in export growth. A similar increase of 17.9 percent was recorded in the previous month.
Chinese trade with Russia developed particularly strongly, increasing by 37.1 percent. China's imports from the neighboring country - which is subject to international economic sanctions for its invasion of Ukraine - rose by 49.3 percent. Chinese exports grew by 22.2 percent. In the Ukraine war, the communist leadership is on the side of Russia's President Vladimir Putin.
According to this information, Germany's exporters continue to suffer from a decline in exports to the second largest economy. China's imports from Germany fell 6.7 percent. In contrast, Chinese exports to Germany increased by 17.6 percent.
The trend in trade with Europe is similar. China's exports to the European Union even increased by 23.2 percent, while imports from the Community fell by 7.4 percent.
