[REVISION HISTORY]

China foreign trade and export growth

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2026-08-09 14:23 UTC → 2026-08-09 19:33 UTC · added ~~removed~~

In the first half of 2026, China's foreign trade and foreign exchange markets experienced record-high activity. External trade reached $3.75 trillion, a 17% increase from the previous year, while foreign exchange reserves grew to $34.163 trillion by the end of June. By July 2026, trade momentum continued with total imports and exports reaching 4.66 trillion yuan, marking the fifth consecutive month exceeding 4 trillion yuan. This growth was significantly driven by the automotive sector; vehicle exports rose 57% year-on-year in July, with new energy vehicles accounting for the majority of that volume. While trade with the US saw a slight decrease, growth was noted in trade with the EU, ASEAN, Latin America, and Africa. Data for the first seven months of 2026 shows total import and export value reached 30.13 trillion yuan, a 17.3% year-on-year increase. Exports rose 14% to 17.44 trillion yuan, while imports increased 22% to 12.69 trillion yuan. This export growth was heavily driven by green technology and high-tech products, including electric vehicles (up 71.2%), lithium batteries (up 35.8%), and wind turbine units (up 34.8%). Mechanical and electrical products accounted for 63.8% of total exports. Despite these figures, July 2026 monthly data indicated a slowdown, with year-on-year increases for both exports and imports falling below market expectations. Economic indicators suggested manufacturing weakness, with the manufacturing Purchasing Managers' Index (PMI) contracting for the first time in five months. Additionally, a 3.5% rise in the Producer Price Index (PPI) in July, alongside a gap between rising input costs and stable output prices, has placed pressure on mid-stream manufacturing profits.

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