China's imports grew faster than expected in July, while export growth lagged behind forecasts, according to customs data. Exports rose in US dollar terms by 7% year-on-year in July, missing forecast and declining from in June. Imports were more than double the forecast. U.S. imports to China soared by 24%, while imports from Southeast Asian countries and the EU rose by 11% and 7%, respectively. Car exports jumped 26%, while home appliances and smartphones also saw gains. Imports of crude oil and natural gas rose by 8% and 6%, respectively.
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00:00It's Benzinga, and here's what's on the block.
00:03China's imports grew faster than expected in July, while export growth lagged behind
00:07forecasts according to customs data.
00:09Exports rose in U.S. dollar terms by 7% year-over-year in July, missing forecasts and declining from
00:15in June.
00:16Imports were more than double the forecast.
00:18U.S. imports to China soared by 24%, while imports from Southeast Asian countries and
00:23the EU rose by 11% and 7%, respectively.
00:27Car exports jumped 26%, while home appliances and smartphones also saw gains.
00:32Imports of crude oil and natural gas rose by 8% and 6%, respectively.
00:36For all things money, visit Benzinga.com.