News / China trade surplus under threat as peak season collapses and demand cools

© Woraphon Banchobdi

China enjoyed a record $101bn trade surplus in July, but cargo volumes could soon decline, due to “cooling demand” and “no peak season” for Asia-Europe trades.

According to Chinese customs statistics, last month’s exports jumped 18% in US dollar terms, while imports grew 2.3% year on year.

However, Julian Evans-Pritchard, senior China economist at Capital Ecomomics, said in a research note: “Exports held up well last month, thanks to a backlog of orders still being cleared. But it won’t be long before ...