Economists polled by Reuters expect July's exports to fall by 2% from a year ago, and imports to decline by 8.3% over the same period.
Xu Congjun | Visual China Group | Getty Imagesis expected to announce on Thursday a decline in both exports and imports for the month of July amid Beijing's escalating trade fight with Washington.
Economists polled by Reuters expect last month's exports to fall by 2% from a year ago, and imports to decline by 8.3% compared to the same period last year. Meanwhile, China's overall trade surplus in July is forecast to be $40 billion, according to the Reuters poll.while imports fell 7.3% over the same period, customs data showed. Trade surplus that month was $50.98 billion, according to the data.
"Softer external demand and punitive tariffs will continue to dampen export growth. Meanwhile, falling commodity prices, a high base last year, and falling intermediary demand may have dragged down import growth in July," analysts from Citi Research wrote in a note last week previewing the incoming data.
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