The slump in imports meant China's global trade surplus swelled by 22 percent from the same month a year ago to $52.3 billion. Even taking lower prices into account, the Chinese figures suggest imports fell by 5.3 percent, according to Louis Kuijs of Oxford Economics. BEIJING (AP) " China's exports fell again in July by an unexpectedly wide margin while a decline in imports accelerated in a possible sign of weakness in the world's second-largest economy. Imports fell 12.5 percent to $132.4 billion, accelerating from a decline of 8.4 percent. "While we think the worst is probably over for many emerging markets, global growth is likely to remain lackluster well into next year."

Source: New Zealand Herald August 08, 2016 03:46 UTC