Double-digit decline in China trade

China saw double-digit declines in both imports and exports in July. China’s trade fell more than expected in July, with exports falling 14.5 percent and imports falling 12.4 percent on an annual basis, according to the China Bureau of Statistics. Both measures fell short of expectations by economists, who had expected a 12.5 percent decline in exports and a 5 percent decline in imports. According to Chinese customs data, the trade surplus was $80.6 billion, above expectations of $70.3 billion. China widened its trade surplus with the U.S. from $28.16 billion to $28.72 billion. Calculated in yuan, exports fell 9.2 percent and imports fell 6.9 percent in July. The trade surplus was 575.7 billion yuan.