Beijing: China’s exports in July rose 7.5 percent compared to a year earlier, despite the Coronavirus epidemic and continued trade tensions with the US. This indicates that China’s economy is recovering from the outbreak of the Coronavirus epidemic. According to official data released on Friday, China’s exports to the US registered a growth of 12.5 percent during the month. China’s total exports during this period stood at $ 237.6 billion.
This is three percent higher than in June 2020. China’s imports during the month of July declined 1.4 percent to $ 175.3 billion. The outbreak of the corona virus epidemic in China began first. China became the first global economy to stall after the onset of the epidemic in December 2019. However, it also controlled the epidemic first and in March the ruling Communist Party claimed victory over Kovid-19. Earlier, China’s gross domestic product (GDP) growth was recorded at 3.2 percent in the June quarter.
This increase in China’s GDP came after a 6.8 percent drop in the March quarter. China’s exports are returning to normalcy at a faster pace than the global average. This shows that Chinese manufacturers are occupying the share of other economies still reeling from the epidemic.
